UK inflation hits 40-year high, cost of living crisis worsens

Daily Mail published this video item, entitled “UK inflation hits 40-year high, cost of living crisis worsens” – below is their description.

UK inflation hits 40-year high, cost of living crisis worsens: Under-pressure households faced a worse-than-expected hit in July as food prices spiked and pushed inflation to another 40-year high. Consumer Prices Index inflation (CPI) reached 10.1% last month, the Office for National Statistics (ONS) revealed. The increase was largely down to food prices and staples including toilet rolls and toothbrushes, the ONS said.

#CostOfLiving #Inflation #UKInflation

Full story: https://www.dailymail.co.uk/news/article-11118905/Inflation-surges-40-year-high-10-1.html

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About This Source - Daily Mail

The Daily Mail is a British daily middle-market newspaper and news website published in London in a tabloid format. Founded in 1896, it is the United Kingdom’s highest-circulated daily newspaper.

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In This Story: Inflation

In economics, inflation refers to a general progressive increase in prices of goods and services in an economy. When the general price level rises, each unit of currency buys fewer goods and services; consequently, inflation corresponds to a reduction in the purchasing power of money.

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