Britain’s inflation rate rose to a new 40-year high of 10.1 percent in July, driven by rising food and energy prices. The Office for National Statistics (ONS) said on Wednesday that inflation based on consumer prices has reached double digits, up from 9.4 per cent in June. That figure is higher than analysts’ forecast of 9.8 percent.
According to the statement, this increase is mainly due to increase in prices of everyday items including food items, energy, toilet paper and toothbrushes. Most economists believe that inflation may increase further in the coming times. The Bank of England says consumer price-based inflation could rise to 13.3 percent in October as natural gas prices rise.
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source https://spotlight7.com/world/uk-inflation-in-britain-at-40-year-high/
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