Soaring Food and Energy Costs Drive UK Inflation to 10.1%

London-- Britain's inflation rate rose to a new 40-year high of 10.1% in July, as rising food prices tightened a cost-of-living squeeze fueled by soaring energy prices, the Associated Press reported.

The Office for National Statistics said Wednesday that consumer prices inflation hit double digits, a jump from 9.4% in June and higher than analysts central forecast of 9.8%. The increase was largely due to rising prices for food and staples, it said.

Source: Saudi Press Agency

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