Inflation in June was partly driven by a 42% year-on-year increase in fuel prices and a nearly 10% increase in food prices.
Inflation in the UK in June rose to 9.4% in annual terms compared to 9.1% in May. This is confirmed by the report of the National Statistical Service (ONS), published on Wednesday, July 20.
function news4494994() {
$.get(‘//’ + window.location.host + ‘/ajax/module.aspx?spm_id=444&id=4494994&lang=2&IsAjax=true’, function (data) { $(‘#nk4494994’).html(data); });
}
news4494994();
Inflation in the UK has hit a new high for 40 years. This has resulted in further strain on household budgets as the cost of living rises.
Inflation in June was said to be driven in part by a 42% year-on-year increase in fuel prices and a nearly 10% increase in food prices.
Prices paid by factories for materials and energy were 24% higher in June than a year earlier – the biggest increase since records began in 1985 – while prices charged by factory jumped 16.5%.
The Bank of England expects a further acceleration of inflation – above 11% – in October. The energy price ceiling will be adjusted again and is expected to rise to average annual bills of more than £3,000. The April level was 1971 pounds sterling and meant only an initial increase in response to the increase in wholesale prices caused by Russia’s war against Ukraine.
Recall that in June, US consumer prices rose 9.1% in annual terms. This is the largest increase in more than 40 years since November 1981.
It was also reported that inflation in Ukraine has exceeded 20% since the beginning of the year. Then the main factors of increasing inflationary pressure are named.
News from Athletistic in the Telegram. Subscribe to our channel Athletistic
Source: korrespondent
I am Dylan Hudson, a dedicated and experienced journalist in the news industry. I have been working for Buna Times, as an author since 2018. My expertise lies in covering sports sections of the website and providing readers with reliable information on current sporting events.