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UK borrowing rose to GBP22.754 billion, lifted by a record high increase in debt interest payments following a jump in inflation, the Office for National Statistics said Wednesday. Debt interest rose by GBP6 billion to GBP8.7 billion, a 222.6% increase over the same month of last year.
That follows a jump in RPI to 2.9% in April from 1.5% in March. RPI has has since increased to 3.9% in June. Borrowing was also inflated by the first instalment of the divorce payments to the European Union of GBP800 million.