Reporting rising Consumer Price Index CPI for the ninth consecutive month, the UK has seen its inflation rate jump to its highest in 40 years, reaching 9.4% in June 2022.
Driven mainly by soaring prices of food and fuel, the cost of living in the UK continues to reach severely high levels, with the Bank of England reporting a 9.4% inflation rate on an annual basis in June 2022, up from 9.1% in May.
UK inflation jumps to 9.4% in year to June, with prices increasing at fastest rate for 40 years, driving up cost of living https://t.co/dOBmczPRnW
— BBC Breaking News (@BBCBreaking) July 20, 2022
The inflation rate in the UK last reported these numbers in 1982, making the current hike the worst in 40 years.
According to the official report released by the UK government, the annual increase for transportation in the country was 15.2% in June 2022.
Food and non-alcoholic beverage prices were the second highest during the year, rocketing to 9.8% YOY in June, up from 8.7% in May, which is the highest rate since March 2009.
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The report also noted that restaurant and accommodation prices climbed by 8.6% between June 2021 to June 2022, up from 7.6% in May.
Clothing and footwear was 6.1% between June 2021 to June 2022, down from 6.9% in May.
