- October 19, 2022
- Posted by: Stratford Team
- Category: Economy
The rate of inflation rose to 10.1% in September, according to official figures, as the economy reels from the effects of rising prices and the fallout from the mini-budget.
The Office for National Statistics (ONS) said the consumer prices index (CPI) measure rose from an annual rate of 9.9% in August to match the recent 40-year high seen in July.
The report showed the largest upwards contribution came from food costs, while fuel provided the greatest downside pressure.
Mortgage rates still rising despite mini-budget U-turns – cost of living latest
The data was released against a backdrop of turmoil – partly a result of the effects caused by Russia’s war in Ukraine and the Western sanctions imposed in response.
Households and businesses are also facing greater uncertainty ahead after the mini-budget tax and spending giveaway of 23 September was largely overturned following a violent rejection by financial markets.
There are now just 12 days…
