UK hits double-digit inflation for the first time in 40 years
At 10.1% inflation, the United Kingdom joins 2 billion people around the world suffering as price rises erode people's purchasing power. The inflation rate in the United Kingdom reached 10.1%, according to the Office for National Statistics (ONS). The Consumer Prices Index (CPI) rose by 10.1% in the 12 months to July 2022. It's a significant leap from 9.4% in June.The ONS stated that housing and household services, including fuel and transport (fuel again), food and beverages are to blame for the surge in prices.The price at the pump in the United Kingdom currently stands at roughly £1.72....
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The British Bitcoin community wades in on the latest inflation print, which once again hit the double digits in the United Kingdom. Prices in the United Kingdom continue to rise, hitting another 40-year high of 10.1%. According to figures from the U.K’s Office for National Statistics, the Consumer Prices Index (CPI) rose by 10.1% in the 12 months to September 2022, up from 9.9% in August. The 10.1% figure mirrors July’s recent high.The Bank of England is 8% off the inflation target, while interest rates are 2.25%. Source: Bankofengland.co.ukAccording to ONS data, “Rising food prices made....