Soaring food prices have pushed the UK’s rate of inflation back to the 40-year high seen in the summer.
The consumer prices index (CPI) rose by 10.1% in the 12 months to September 2022, up from 9.9% in August and returning to July’s recent high, according to a new report from the Office for National Statistics (ONS).
Previously, the last time UK inflation was over 10% was in February 1982 when it reached 10.2%.
Last month saw the biggest jump in food prices since 1980, driven by higher prices for bread and cereals, meat products, milk, cheese and eggs.
Food and non-alcoholic drinks provided the largest upward contribution to September’s inflation, while the continued fall in petrol and diesel prices provided the biggest downward pressure.
The Bank of England said in September that it expected inflation to peak at 11% in October and then remain above 10% for a few months before starting to come down.
The latest figures will put pressure on the central bank to raise interest rates further at its next meeting in November.
