UK inflation today hit a bigger-than-expected 10.1%, the highest annual rate in over 40 years.
July’s reading for the Consumer Price Index included an increase in the core figure to 6.2%, while the Retail Price Index used in setting rail fares surged to 12.3%.
Figures from the Office for National Statistics also showed the price of goods produced by UK factories rose 17.1% in the year, the highest rate since August 1977.
