Prices in the US are rising at their fastest rate for more than 40 years due to petrol and food costs remaining high, latest figures show.

Inflation, the rate at which prices rise, hit 9.1% in the 12 months to June and increased by 1.3% from May alone, the Labor Department said.

US petrol prices hit record highs last month, averaging above $5 per gallon.

It has led to predictions that the US central bank will hike interest rates further later this month.

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