Higher, stronger and faster… Inflation accelerated to 10.1% year-over-year in the United Kingdom, the highest in 40 years and the strongest among the G7 countries, fueled mainly by a surge in commodity prices. food, in the midst of a cost of living crisis in the United Kingdom.

Figures that are likely to add to the difficulties faced by Prime Minister Liz Truss, who is struggling for her political survival after a catastrophic economic plan that set fire to financial markets and forced her into a humiliating and drastic reversal.

In August, inflation reached 9.9%.

Among other factors that helped to intensify the pace of price increases last month, the Office for National Statistics (ONS) mentions hotel rates in its monthly report on Wednesday.

On the other hand, the surge in prices was partially mitigated by a drop in fuel prices, air tickets which fell more than usual for this time of year, while second-hand cars rose less than previous years.

"After last month's small dip, inflation is back to its early summer highs," said Darren Morgan, director of economic statistics at the ONS.

If the inflation rate remains "at a historically high level, the costs faced by companies are starting to slow down, with crude oil prices even falling in September", he tempers.

fall of the pound

"I understand that families across the country are struggling to cope with rising prices and rising energy bills," reacted the newly appointed Finance Minister, Jeremy Hunt.

He was hurriedly appointed on Friday by Prime Minister Liz Truss after the fiasco of his budget plan combining all-out tax cuts and massive support for energy bills, which was to be financed solely by spiraling debt. rates.

Judged as inflationary in the medium term and likely to cause public finances to slip dangerously, it scared investors away.



The pound fell to an all-time low and UK government borrowing costs took off, impacting mortgage and business lending rates, which were already rising sharply.

“This government gives priority to the most vulnerable while bringing economic stability and leading to the long-term growth desired by all,” assured the minister in his statement.

Labor economics chief Rachel Reeves for her part castigated inflation figures “which add to the anxiety of families”.

The country is going through “a crisis generated by the Conservatives (…) but paid for by the workers”, she added.

  • Economy

  • UK

  • Inflation

  • Liz Truss