UK inflation surges to 10.1% in September, back to 40-year high
- The biggest increase in food prices since 1980 pushed British inflation back into double digits last month, matching a 40-year high set in July, inflicting a new blow on households already struggling with rising living costs.
- According to the Office for National Statistics, the consumer price index (CPI) increased by 10.1% year on year in September.
- A Reuters poll of economists predicted a reading of 10.0%, up from 9.9% in August.
- Following the news, the pound fell below $1.13 and was last down 0.2% on the day.
- The figures emphasised the difficult environment for British households, particularly those on low incomes, who face new uncertainty about the extent of financial assistance available to them as a result of recent government U-turns.