© Reuters. FILE PHOTO: An individual appears into a store on the Petticoat Lane Market, with the Metropolis of London monetary district seen within the distance, in London, Britain, October 3, 2022. REUTERS/Henry Nicholls/File Photograph
LONDON (Reuters) – Britain’s annual charge of shopper value inflation inched as much as 10.1% in September, returning to a 40-year excessive hit in July, the Workplace for Nationwide Statistics mentioned on Wednesday.
Economists polled by Reuters had forecast the inflation charge would rise to 10.0% from 9.9% in August.
The ONS mentioned the primary driver of inflation in September was rising meals costs.
Britain has been hit laborious by the surge in European costs attributable to Russia’s invasion of Ukraine, which has added to post-COVID supply-chain bottlenecks and labour shortages, creating an intense squeeze on residing requirements.