The United Kingdom sees double-digit inflation for the first time in decades, but have the country's woes just begun? (Reporting via JoeNakamoto)
The inflation rate in the United Kingdom reached 10.1%, according to the Office for National Statistics . The Consumer Prices Index rose by 10.1% in the 12 months to July 2022. It's a significant leap from 9.4% in June.
The ONS stated that housing and household services, including fuel and transport , food and beverages are to blame for the surge in prices.at roughly £1.72 per liter, having almost breached the £2 mark recently. For Diesel, the price sits at £1.84 per liter, having dropped under the £2 mark in June. The ONS reported that rising food prices were the largest contributor to the inflation rate.
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