{"id":1229489,"date":"2022-10-20T08:20:56","date_gmt":"2022-10-20T08:20:56","guid":{"rendered":"https:\/\/www.ghanamma.com\/2022\/10\/20\/uk-inflation-back-at-40-year-high-as-food-prices-soar-economy\/"},"modified":"2022-10-20T08:20:56","modified_gmt":"2022-10-20T08:20:56","slug":"uk-inflation-back-at-40-year-high-as-food-prices-soar-economy","status":"publish","type":"post","link":"https:\/\/www.ghanamma.com\/2022\/10\/20\/uk-inflation-back-at-40-year-high-as-food-prices-soar-economy\/","title":{"rendered":"UK Inflation Back at 40-year High as Food Prices Soar | Economy"},"content":{"rendered":"<p><\/p>\n<div>\n<p>Rising food and energy costs drove\u00a0UK inflation\u00a0back to a 40-year high in September, but it could be nearing a peak as cash-strapped households pull back on spending amid broader\u00a0economic turmoil.<\/p>\n<p>The annual rate of inflation rose to 10.1% in September, up from 9.9% in the 12 months to August, the Office for National Statistics said on Wednesday. That\u00a0returns it to July\u2019s recent high.<\/p>\n<p>Soaring food prices were the largest single contributor to the acceleration in inflation, jumping 14.6% year-on-year, the ONS said.<\/p>\n<p>The return to double-digit inflation will be worrying for the Bank of England, which meets on November 3 to set interest rates. Governor Andrew Bailey has said that a \u201cstronger response\u201d may be needed to get a handle on price rises.<\/p>\n<p>The central bank will evaluate rising price pressures against the government\u2019s recent U-turns on unfunded tax cuts, which could help ease inflation in the coming months.<\/p>\n<h3><strong\/><\/h3>\n<p><span class=\"peace_home_topstory\"><br \/>\n<span style=\"color: rgb(17, 97, 142); font-weight: bold;\"><br \/>\nRead Full Story &#8230;.<br \/>\nHERE >>><br \/>\n<\/span> : \u00a0\u00a0<br \/>\n<\/span><\/p>\n<p><span class=\"peace_black_text_4\">Source: CNN<\/span><\/p>\n<p>\u00a0<\/p>\n<p>\u00a0<\/p>\n<table width=\"100%\" border=\"0\" cellpadding=\"0\" cellspacing=\"0\" style=\"clear:both\">\n<tr>\n<td><span class=\"peace_red_text_1\">Disclaimer<\/span>: <span class=\"peace_ash_text_1\">Opinions expressed here are those of the writers and do not reflect those of Peacefmonline.com. Peacefmonline.com accepts no responsibility legal or otherwise for their accuracy of content. Please report any inappropriate content to us, and we will evaluate it as a matter of priority.<\/span><\/td>\n<\/tr>\n<\/table>\n<p>Featured Video\n<\/p>\n<p><div class=\"youtube-embed\" data-video_id=\"wB2-NHndouE\"><iframe loading=\"lazy\" title=\"Our Fight Against Sim Card Registration Is Unending- Hon. Ras Mubarak Cautions Gov&#039;t\" width=\"696\" height=\"392\" src=\"https:\/\/www.youtube.com\/embed\/wB2-NHndouE?feature=oembed&#038;enablejsapi=1\" frameborder=\"0\" allow=\"accelerometer; autoplay; clipboard-write; encrypted-media; gyroscope; picture-in-picture\" allowfullscreen><\/iframe><\/div>\n<\/p>\n<\/div>\n","protected":false},"excerpt":{"rendered":"<p>Rising food and energy costs drove\u00a0UK inflation\u00a0back to a 40-year high in September, but it could be nearing a peak as cash-strapped households pull back on spending amid broader\u00a0economic turmoil. The annual rate of inflation rose to 10.1% in September, up from 9.9% in the 12 months to August, the Office for National Statistics said [&hellip;]<\/p>\n","protected":false},"author":1,"featured_media":1229491,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[72],"tags":[15764,1963,1552,2158,227,601,5977],"class_list":["post-1229489","post","type-post","status-publish","format-standard","has-post-thumbnail","category-business","tag-40year","tag-economy","tag-food","tag-high","tag-inflation","tag-prices","tag-soar"],"_links":{"self":[{"href":"https:\/\/www.ghanamma.com\/2022\/wp-json\/wp\/v2\/posts\/1229489","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/www.ghanamma.com\/2022\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/www.ghanamma.com\/2022\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/www.ghanamma.com\/2022\/wp-json\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/www.ghanamma.com\/2022\/wp-json\/wp\/v2\/comments?post=1229489"}],"version-history":[{"count":0,"href":"https:\/\/www.ghanamma.com\/2022\/wp-json\/wp\/v2\/posts\/1229489\/revisions"}],"wp:attachment":[{"href":"https:\/\/www.ghanamma.com\/2022\/wp-json\/wp\/v2\/media?parent=1229489"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.ghanamma.com\/2022\/wp-json\/wp\/v2\/categories?post=1229489"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.ghanamma.com\/2022\/wp-json\/wp\/v2\/tags?post=1229489"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}