UK inflation hits new 40-year high of 10.1%17 Aug 2022 09:08
The consumer price index rose 10.1% annually, according to estimates published by the Office for National Statistics on Wednesday, above a consensus forecast of 9.8% and up from 9.4% in June.
Rising food prices made the largest upward contribution to annual inflation rates between June and July, the ONS said in its report.
The Bank of England expects inflation to top out at 13.3% in October.