Inflation returns to 40-year high

The rate of inflation rose to 10.1% in September as the economy felt the effects of rising prices and the fallout from the Mini Budget, according to the Office for National Statistics (ONS).

The ONS said the Consumer Prices Index (CPI) measure rose from an annual rate of 9.9% in August to match the recent 40-year high seen in July.

The report showed that the largest upwards contribution came from food costs, while fuel provided the greatest downside pressure. It said the pace of food price rises was at its highest since April 1980 – running at an annual rate of 14.6%.

For more information click here – Consumer price inflation UK, September 2022

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