Economic Buzz: UK Consumer Price Inflation Soars To Four Decade High

16 Nov 2022 , 02:46 PM

UK consumer price inflation hit a 41-year high in October driven by household energy and food prices, official data showed on Wednesday. Consumer prices grew 11.1 percent on a yearly basis, following Septembers 10.1 percent increase. Food and non-alcoholic beverages also made a large upward contribution, with prices rising 16.2 percent. Excluding energy, food, alcoholic beverages and tobacco, core inflation held steady at 6.5 percent in October, while the rate was forecast to slow marginally to 6.4 percent.Powered by Commodity Insights