UK inflation hits 9.4%, a 40-year high – POLITICO


UK consumer price inflation hit 9.4% in June, a significant increase since May, according to data released Wednesday by the Office for National Statistics (ONS).

The reading marks a jump from the 9.1% measured in May. Transportation, namely fuel prices, and food prices were the main drivers of the surge in inflation, offset only slightly by lower used car prices.

“Annual inflation has risen again to its highest rate in over 40 years,” Grant Fitzner, chief economist at the ONS, said in a statement. statement.

Food prices rose 9.8% in June, from 8.7% in May. This is the highest rate since March 2009, marked by particularly large increases for milk, cheese and eggs.

When adjusted to include the costs of owner-occupied housing, prices rose 8.2% in June, from 7.9% in May.




Politico

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