UK inflation rate rises to 10.1% in July 2022
The consumer prices index (CPI) measure of inflation rose to 10.1% in July 2022, according to the Office for National Statistics. CPI was 9.4% in June 2022.
The retail prices index (RPI) rose to 12.3% in July 2022.
With inflation now in double digits, it is almost impossible to remember that CPI was as low as 0.2% as recently as August 2020.
Much if the recent increases in inflation have been driven by the war in Ukraine’s impact on fuel and food prices.
Farrell Financial Planning do not give advice on future inflation or interest rate movements. Farrell Financial Planning are independent financial advisers (IFAs) based in Glasgow, Scotland.
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All information is correct as at 17/08/22.