Inflation in Britain has hit a 40-year high after it hit 10.1 per cent last month, heaping more pressure on families already struggling to pay bills. According to the Office for National Statistics (ONS) the Consumer Prices Index inflation (CPI) reached 10.1 per cent in July, beating expectations.
The increase was largely down to food prices and staples including toilet rolls and toothbrushes, the ONS said. The measure had been expected to reach 9.8 per cent, according to an average of analysts' estimates calculated by Pantheon Macroeconomics.
It is the biggest jump in the cost of living since February 1982, when CPI reached 10.4 per cent, according to ONS estimates. It is also a massive jump from the 9.4 per cent inflation in June.
