UK inflation soared to 10.1% in July, at highest since 1982

MADRID, 17 Ago. (EUROPA PRESS) -

The year-on-year inflation rate in the United Kingdom stood at 10.1% last July, compared to 9.4% registered in June, which represents the largest increase in prices since 1982, as reported on Wednesday by the Office Statistics UK (ONS).

The agency indicated that this is the highest year-on-year inflation rate recorded in a month of the current historical series, which began in January 1997.

The estimation models prior to that date managed by the ONS (which do not record) suggest that inflation would only have registered a higher level in January 1982.

For its part, the core CPI, which excludes the volatility of energy, food, alcohol and tobacco prices, increased by 6.2% in the 12 months to July, up from 5.8% in June.

In monthly terms, prices registered an increase of 0.6% in the seventh month of the year, after having remained stable in June.

The Bank of England warned that the rise in the CPI may exceed 13% in the fourth quarter of 2022 and remain at very high levels for much of 2023, before falling to the 2% target in two years, while the entity predicts that the second European economy will enter a recession "as of the fourth quarter of this year".

The year-on-year inflation rate in the euro zone stood at 8.9% in July, compared to the 8.6% registered in June, while in the case of the United States the rise in prices in July moderated to 8. 5%, six tenths below the 9.1% observed in June.