UK inflation hits 10.1% in new 40-year high | Business - The Times

Inflation passed 10 per cent and hit a new 40-year high last month, adding to pressure on households struggling with the cost of living crisis.

The consumer prices index, the main measure of annual price rises, hit 10.1 per cent in July, according to the Office for National Statistics (ONS). It is the highest rate since February 1982 and surpasses forecasts by economists of 9.8 per cent. In June the rate was 9.4 per cent.

• What 10 per cent inflation means for your money

Britain is on course to suffer the highest inflation in the rich world later this year, with an annual rate of 13.3 per cent forecast in October when the energy price cap rises. It is due to rise again in

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2022-08-17 07:30:00Z
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