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UK inflation hits double digits for first time in 40 years

Andrew Atkinson and Celia Bergin

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London | UK inflation rose more than expected last month to the highest in 40 years, intensifying a squeeze on consumers and adding to pressure for action from the government and Bank of England.

The Consumer Prices Index rose 10.1 per cent in July from a year earlier after a 9.4 per cent gain the month before, the Office for National Statistics said Wednesday. Economists had expected a reading of 9.8 per cent.

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    Original URL: https://www.afr.com/policy/economy/uk-inflation-hits-double-digits-for-first-time-in-40-years-20220817-p5baod