UK inflation tops 10% for first time in 40 years
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For the first time since 1982, annual inflation in the UK accelerated to 10%. As follows from report According to the National Statistical Service (ONS), the consumer price index (CPI) in July increased by another 0.6% compared to June. As a result, the growth of the index over the past 12 months amounted to 10.1%.
Prices in Britain are rising faster than economists predicted. CPI was expected to rise in July to 9.8% year on year.
According to the ONS, food and non-alcoholic beverages contributed most significantly to CPI growth. In the last month alone, their prices have risen by an average of 2.3%. These goods have not risen in price so rapidly since May 2001. And the annual increase was already 12.7% – the highest figure since August 2008.
Earlier, the Bank of England warned that annual inflation in the UK could accelerate to 13% in autumn due to rising electricity prices, and the country’s economy could enter a protracted recession.
How the British regulator is trying to curb inflation, read the material “Kommersant” “The Bank of England has made its bet”.
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