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Inflation: Who is benefitting from soaring prices?

The fastest rise in the cost of living for four decades means people are typically having to spend ?110 to get what ?100 bought them last year.

But some industries are benefitting from higher inflation and posting bumper profits. There are huge sums to be made if you're in the business of drilling for oil, trading wheat, transporting toys, or selling fine wines.

So who's gaining from the extra spend?

Energy giants

Businesses which extract and refine fossil fuels have grabbed the headlines in recent months due to their record profits. Wholesale gas prices have soared on international markets and oil prices have hovered around $100 per barrel due to demand increasing and supply fears following Russia's invasion of Ukraine.

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