LONDON – The Office for National Statistics said on Wednesday that Britain’s annual rate of consumer price inflation crept up to 10.1% in September, returning to a 40-year high reached in July.
Reuters asked economists, and they said that the inflation rate would go up from 9.9% in August to 10.0% in September.
The ONS said that rising food prices were the main reason why prices rose in September.
Britain has been hit hard by the rise in European natural gas prices, which was caused by Russia’s invasion of Ukraine. This, along with supply-chain bottlenecks and labour shortages after COVID, has put a lot of pressure on living standards and lowered living standards to a very low level.
