UK Inflation Rate at 10%.
London, Wednesday, 17 August 2022
The annual inflation rate in the UK increased to 10.1 percent in July of 2022 from 9.4 percent in the previous period and slightly above market forecasts of 9.8 percent.
It was the highest reading since February 1982, as prices rose faster for housing & utilities (20.0 percent vs. 19.6 percent in June), recreation & culture (5.6 percent vs. 4.8 percent), food & non-alcoholic beverages (12.6 percent vs. 9.8 percent) and restaurant & hotels (8.9 percent vs. 8.5 percent).
On the other hand, transportation prices eased (14.8 percent vs. 14.9 percent).
Compared to the previous month, consumer prices were up 0.6 percent, below 0.8 percent in June, but above forecasts of 0.4 percent.
(Source: Office for National Statistics // Report and edit by: The Decision Maker – Finance editors)