12:06 - 19.08.2022

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August 19, Fineko/abc.az. UK's annual inflation topped 10% last month.

ABC.AZ reports with reference to foreign media that July's annual inflation in the UK amounted to 10.1%, according to the website of the National Statistical Service.

The indicator exceeded 10% for the first time in 40 years. It last rose above this level - 10.2% - in February 1982.
In June, consumer prices rose by 9.4%. Food and non-alcoholic beverages rose the most, while prices for pet food and hygiene items increased as well.

The Bank of England last raised its key rate on August 4 by 0.5 percentage points to 1.75%, which was the sharpest increase in 27 years. According to the regulator's forecast, inflation will rise to 13% by the end of the year. The Bank of England predicts a recession in the fourth quarter.