UK Inflation Hits 40-Year High Amid Food Cost Rise
United Kingdom has recorded a 40-year high inflation as a result of the soaring food prices.
The consumer price index rose 10.1%, compared with 9.9% the previous month, the Office for National Statistics made this known on Wednesday. The new data shows inflation returned to the July peak and is once again at the highest since early 1982.
The increase was driven by food prices, which leapt by 14.5% from a year earlier, the biggest jump since 1980, the ONS said.
“I understand that families across the country are struggling with rising prices and higher energy bills,” Britain’s new finance minister Jeremy Hunt said in a separate statement.
“This government will prioritise help for the most vulnerable while delivering wider economic stability and driving long-term growth that will help everyone.”
