Economics

UK Inflation at New 40-Year High Worsens Living Standards Crisis

Consumer prices surged annual 9.4% in June, most since 1982
Figures follow warnings of strike action, big BOE rate hike

WATCH: The inflation surge intensifies the UK’s cost of living crisis. Lizzy Burden reports.Source: Bloomberg

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By Andrew Atkinson and Philip Aldrick

July 20, 2022 at 6:04 AM UTC

Updated on

July 20, 2022 at 6:32 AM UTC

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UK inflation hit a new 40-year high in June, intensifying the cost of living crisis and heaping pressure on the Bank of England to deliver an aggressive interest-rate increase next month.