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What Happened In 1975 | History Snack Time | Key Events of 1975 - Must Watch In the UK inflation remains to spiral out of hand reaching 24.2% the cost of Gas enhanced by almost 70% in one year, yet the US sees a start back down with US rising cost of living dropping to 9.2%, both governments utilize interest rates as a way of attempting to manage inflation with the US Federal Reserve at 7.25% as well as The Bank of England at 11.25%.
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