UK inflation hits 40-year high of 10.1%

by | Oct 19, 2022

Share this article

Higher food prices helped push up inflation in September, official data showed on Wednesday, to a record 10.1%.
According to the Office for National Statistics, the consumer price index rose by 10.1% in the 12 months to September, compared to August’s rate of 9.9%. The figure was largely in line with expectations.

On a monthly basis, CPI rose by 0.5% in September, compared to 0.3% in September 2021.

Including owner occupiers’ housing costs, annual CPIH rose by 8.8%, from 8.6% in August. On a monthly basis it rose 0.4%, compared to 0.3% in September 2021.

The ONS said that rising food prices made the largest upward contribution to the change in both CPIH and CPI. The largest downward pressure was transport, as the price of motor fuels and second hand cars continued to fall.

Inflation has been mounting throughout the year, hitting a 40-year high of 10.1% in July before easing slightly to 9.9%.

Share this article

Related articles

Reports of delay to bond sale ‘inaccurate’ – BoE

Reports of delay to bond sale ‘inaccurate’ – BoE

The Bank of England appeared to deny reports on Tuesday that it wanted to delay selling billions of pounds of government bonds. The central bank acquired £838bn of gilts during its quantitative easing programme. It had intended to start selling them on 6 October, but...

Trending articles