UK Inflation Hits Double Digits as Food Prices Spike

The UK’s inflation in July reached 10.1 percent, hitting another 40-year high, official figures show.
According to data published on Wednesday by the Office for National Statistics (ONS), Consumer Prices Index (CPI) in July jumped by 10.1 percent year-on-year, up from 9.4 percent in June.
The measure had been expected to reach 9.8 percent, according to an average of analysts’ estimates calculated by Pantheon Macroeconomics.
It is the biggest jump in the cost of living since February 1982, when CPI reached 10.4 percent, according to ONS estimates.
The  CPI including owner occupiers’ housing costs (CPIH) surged by 8.8 percent in the 12 months to July, up from 8.2 in June….