British rate of inflation jumped to the new 40syear tall, still bulky more pain on cashlow-income households like cost of life crisis deepens.
The consumer price index (CPI) rose to 10.1%. in 12 months to July, up from 9.4% in June and staying on highest level since February 1982 Management for It is reported by the National Statistics (ONS).
The rise in food prices was the largest driver to latest campaign, according to the UNS.
July inflation rate is higher than the 9.8% expected by most economists and represents a further reduction on people pockets.
What is going to happen for prices back to normal? Your cost of answers to live questions
This happens after the publication of individual data on Tuesday showed workers hurt a record real-term wage decline in in face of coil prices.
Millions of public sector workers are expected to vote on strike over pay this fall in what is the biggest wave of strikes since the 1970s.
inflation will rise up pressure on in government take further steps to resolve cost of life crunch like Tory Leadership Contest continues.
Boris JohnsonThe spokesman said no further interventions are foreseen until September 5, when either Rishi Sunak or Liz Truss will become new prime minister, despite the fact that Labor leader Sir Keir Starmer put forward your “radical” package of measures he says would help families are coping this winter.
Response to hike in inflation, Chancellor Nadhim Zahavi said: “I understand that times hard, and people worried about the increase in prices that countries around world are facing.
“While there are no easy solutions, we are helping where we can through £37bn. support package, with further payments for those on lowest incomes, pensioners and disabled £400 off energy bills for each in coming months.
“Keeping inflation under control is my top priority, and we are taking action through strong, independent monetary policy. policy, responsible tax and spending decisions and reforms to improve productivity and growth.”
ONS Chief Economist Grant Fitzner said: “A broad range of price growth caused inflation up again this month.
“Food prices rose markedly, especially for bakery products, dairy products, meat and vegetables, which was also reflection in higher takeaway prices.
“Prices are rising in other main product items such as pet food, toilet paper rolls, toothbrushes and deodorants also pushed up inflation in July.
“Which led higher demand, price for package the holidays rose, after the fall at the same time last yearbye air tariffs also increased.
” cost of both raw materials while the goods leaving the factories continued to rise, controlled price of metals and foodstuffs, respectively.
