UK Inflation Hits 10.1% Amid Cost of Living Crisis, Recession Looms

By Staff, Agencies

UK inflation has risen to 10.1%, adding to pressure on households amid the cost of living crisis.

The figures from the Office for National Statistics showed a further increase in July from 9.4% in June, as measured by the consumer prices index [CPI].

The figure was last higher in February 1982.

The reading was higher than the 9.8% forecast City economists had made.

Households are expected to come under further pressure this autumn from a fresh rise in energy bills, which the Bank of England forecasts will drive inflation above 13% and trigger a long recession as families rein in their spending.