UK inflation at highest in 18 months as food costs rise
According to official figures, the UK Inflation rose to the highest level of 18 months as food prices for the third month increased in June.
The National Statistics Office said on Wednesday that the consumer price index inflation rose to 3.6 percent in June, 3.4 percent in May and to the highest level since January 2024.
The increase was unexpected, most economists predicted that inflation would remain by 3.4 percent unchanged.
Annual food price inflation has reached the highest level since February 2024, while transportation costs have increased the cost of living.
Richard Heys, the Chief Economist of Ones Acting, said: “In June, inflation was mainly caused by a slightly falling engine fuel prices compared to a much larger decline last year.
“Food price inflation has increased to the highest annual rate since February last year for the third month in a row.
“However, it is far below the summit seen at the beginning of 2023.”
Chancellor Rachel Reeves, to help reduce inflation, he said it was “more to do”.
Orum I know that working people are still fighting the cost of living, ”he said.
“There is more to be done and I’m determined that we plan to change more money in people’s pockets.”
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