How the cost of food and drink has pushed UK inflation to 10.1 per cent - The Evesham Observer

How the cost of food and drink has pushed UK inflation to 10.1 per cent

Evesham Editorial 17th Aug, 2022   0

THE UK inflation rate has hit double digits – 10.1 per cent – the Office for National Statistics has revealed.

It’s a higher rate than analysts were predicting – the last time price rises were in double digits was in February 1982

Rising food and drink prices made the biggest contribution to the change in the inflation rate between June and July

Bread, cereals, milk, cheese and eggs had a particular impact on rising prices

But the cost of living is rising across the board, driven partly by energy costs and the Ukraine war but also factors such as the cost of raw materials

Meanwhile, average wage increases are falling behind, with the average salary buying three per cent fewer goods and services than a year before

Inflation is expected to continue rising this year, with the Bank of England predicting it won’t go down to the target two per cent for about two years

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