Today: Saturday, 3 December 2022 year

Annual inflation in the UK hit a 1981 record.

Annual inflation in the UK hit a 1981 record.

Annual inflation in the UK in October accelerated to a 41-year record of 11.1% from 10.1% a month earlier, according to the Office for National Statistics (ONS).

The value was the highest for the last 41 years, after the figure in October 1981 was 11.2%.
In October, consumer prices in Britain rose by 2% after rising by 0.5% in September.
Analysts polled by the Daily FX portal expected annual inflation at 10.7%, monthly – at 1.7%.

At the same time, the CPIH index (inflation, taking into account the costs of homeowners for housing maintenance) amounted to 9.6% after 8.8% a month earlier. In October, prices for this index rose by 1.6% after 0.9% in September.

Overall, rising food prices have made a significant contribution to accelerating inflation, while transport prices (mainly motor fuel and used car prices) have had a dampening effect on the overall figure.