The biggest increase in Britain’s inflation since 1980 caused it to rise above 10% last month, reaching its highest level in 40 years in July. This represents a fresh blow to the nation’s struggling families.
Following a gain of 9. 9% in August, the British National Statistics Office said that the consumer price index climbed by 10.1% on an annual basis in September. However, Reuters polled the opinions of economic experts, who predicted a reading of 10%.
After those results, the pound dropped below $1.13 and decreased by 0.2% in the most recent session.
Food prices and non -alcoholic drinks constituted the largest catalyst for high inflation in September, as it increased by 14. 5%, the largest jump since April 1980..
Inflation in Britain has returned to its highest level in 40 years due to a significant increase in food prices.
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