UKinflation hits 40-year high, increasing pressure oncost-stricken households Living Crisis.
The consumer price index (CPI) rose from 9.4% in June to 10.1% in the 12 months to July, 1982. Maintaining the highest standards for years. National Statistics (ONS) said.
Inflation in July was higher than most economists had expected, at 9.8%, indicating more pressure on people's pockets.
Inflation is expected to peak at 13.3% later this year, pushing the UK into recession, according to the Bank of England (BoE).
A rise will come when the energy price cap, which regulates how much more than 20 million households pay for gas and electricity, is raised in October. The latest projections set the cap to reach around £3,635, an 84% increase from today's already record high price.
The UK chief of Pantheon Macroeconomics Samuel Toombs, his economist, said motor fuel prices rose 3% month-on-month in July, which he said would help boost inflation. said deaf.
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