Inflation In The United Kingdom Continues To Surge Energy Prices Hit New 40-year Highs
Inflation in the United Kingdom continues to surge as food and energy prices hit new 40-year highs. This surge has caused many people to struggle with their finances and has put a lot of pressure on the government to take action.
LONDON — U.K. inflation continued to rise in July, as prices for food and energy continued to increase.
The consumer price index rose 10.1% annually, according to estimates published by the Office for National Statistics on Wednesday, above a Reuters consensus forecast of 9.8% and up from 9.4% in June. This is the highest inflation rate in the country in 40 years.
Core inflation, which excludes energy, food, alcohol and tobacco, came in at 6.2% in the year to July 2022, rising from 5.8% in June and ahead of projections of 5.9%.
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