Households across Britain were warned today that they will suffer economic “pain” after inflation sky-rocketed to a 40-year high of 10.1 per cent.
The shock rise in prices from 9.4 per cent in June caught the City by surprise and sparked fresh accusations that Bank of England interest rate setters have been too slow to respond to the spiralling crisis. The Government also came under fire for not taking more action in recent months to protect millions of families struggling to make ends meet as the cost of food, energy and fuel have soared.
