In June, there was a 9.4 percent increase in consumer prices.

A peak for the UK’s inflation rate not seen in forty years

The United Kingdom’s inflation rate reached its highest level in forty years. The month of June saw a 9.4 percent increase in consumer prices, which came at a time when there was growing concern about the rising cost of living.

Inflation in the United Kingdom reached 9.4 percent year-on-year in the month of June, according to numbers that were released by the Office for National Statistics on Wednesday. This figure represents a faster rate of increase than had been anticipated for the month of June.

Since February 1982, this is the highest monthly increase that the inflation rate has seen.

Moving Markets

The initial projection for the Consumer Price Index for the month of June was for a 9.3 percent increase, which is an increase from the 9.1 percent forecast for May.

According to the authority in charge of statistics in the UK, the most significant contributors to the upward trend were rises in the prices of both food and fuel for automobiles.

According to the information provided, the yearly increase for transportation was 15.2 percent.

The price of food and beverages that do not contain alcohol experienced a year-over-year increase of 9.8 percent, which was the highest level seen since March of 2009.


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