Learn about the Cost of Living Crisis and Record Inflation in the UK. It is the Highest in last 4 Decades.
The annual inflation rate in the UK increased to 10.1 percent in July of 2022 from 9.4 percent in the previous period and slightly above market forecasts of 9.8 percent. It was the highest reading since February 1982, as prices rose faster for housing & utilities (20.0 percent vs. 19.6 percent in June), recreation & culture (5.6 percent vs. 4.8 percent), food & non-alcoholic beverages (12.6 percent vs. 9.8 percent) and restaurant & hotels (8.9 percent vs. 8.5 percent).
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