Economic Buzz: UK Inflation Hits Another 40 Year High In July

17 Aug 2022 , 02:22 PM

UK inflation rose to another 40-year high in July on soaring food and energy prices. The consumer price index rose 10.1% annually, according to estimates published by the Office for National Statistics on Wednesday. Core inflation, which excludes energy, food, alcohol and tobacco, was at 6.2% in the year to July 2022, rising from 5.8% in June and ahead of projections of 5.9%. Rising food prices made the largest upward contribution to annual inflation rates between June and July, the ONS said in its report.Powered by Commodity Insights