Soaring food prices push UK inflation back to 40-year high By Reuters
2022-10-19 15:30:13
more 
363

LONDON (Reuters) -The biggest jump in food prices since 1980 pushed British inflation back into double digits last month, matching a 40-year high hit in July in a new blow for households grappling with the cost-of-living crisis.

The Office for National Statistics said the consumer price index (CPI) increased by 10.1% in annual terms in September. A Reuters poll of economists had pointed to a reading of 10.0%, after a 9.9% rise in August.

The pound slipped below $1.13 on the news and was last down 0.2% on the day.

Food and non-alcoholic beverages prices were the biggest driver of inflation in September as they rose by 14.5%, the biggest jump since April 1980 according to historic modelled estimates of the CPI.

Hotel prices also increased in September, the ONS said.

"Today's release highlights the danger that underlying inflation remains strong even as the economy weakens," said Paul Dales, chief UK economist at consultancy Capital Economics.

He pointed to rising core inflation, a measure that excludes volatile food and energy prices, which hit a new 30-year high of 6.5%.

Britain has been hit hard by the surge in European prices caused by Russia's invasion of Ukraine, which has added to post-COVID supply-chain bottlenecks and labour shortages, creating an intense squeeze on living standards.

Tuyên bố:
Nội dung bài viết này không thể hiện quan điểm của trang web FxGecko, nội dung chỉ mang tính chất tham khảo không mang tính chất tư vấn đầu tư. Đầu tư là rủi ro, hãy lựa chọn cẩn thận! Nếu có bất kỳ vấn đề nào liên quan đến nội dung, bản quyền,… vui lòng liên hệ với chúng tôi và chúng tôi sẽ điều chỉnh trong thời gian sớm nhất!

Các bài báo liên quan

您正在访问的是FxGecko网站。 FxGecko互联网及其移动端产品是中国香港特别行政区成立的Hitorank Co.,LIMITED旗下运营和管理的一款面向全球发行的企业资讯査询工具。

您的IP为 中国大陆地区,抱歉的通知您,不能为您提供查询服务,还请谅解。请遵守当地地法律。