UK.. Inflation rate rises to 10.1%

British government data showed that the country’s inflation rate rose to 10.1% in September as the economy continues to suffer from the effects of higher prices and the impact of the mini-budget.

The Office for National Statistics said the consumer price index, which rose to 10.1% in September from 9.9% in August, is the highest in 40 years.

The report was expected to show significant upward pressure from food prices, while fuel and other transport components were set to decline.

Households and businesses face more uncertainty going forward as the mini-budget tax and spending giveaways were lifted after the financial markets crashed.

Source: sky news