The United Kingdom (UK) reached record inflation numbers for the month of July. According to the Office for National Statistics, Consumer Price Index (CPI) rose to 10.1%, from 9.4% for the month of June. The number is north of the anticipated result of 9.8%. This is the highest inflation rate the country has faced in nearly 40 years.
According to the Office of National Statistics report, the increase in food prices between June and July had the most impact on yearly inflation rates for the UK. Moreover, in an effort to control inflation, the Bank of England has raised interest rates six times in a row so far.#togrp7
All the countries about to face an extremely high inflation rate