Britain’s inflation rate rose to a new 40-year high of 10.1% in July, as rising food prices tightened a cost-of-living squeeze fueled by soaring energy prices.
The Office for National Statistics said Wednesday that consumer prices inflation hit double digits, a jump from 9.4% in June and higher than analysts’ central forecast of 9.8%. The increase was largely due to rising prices for food and staples including toilet paper and toothbrushes, it said.
