UK

Cost of living – live: UK inflation hits 40-year high as food prices soar

The UK rate of inflation has hit 10.1 per cent, the highest level in 40 years.

The increase was largely down to food prices and staples including toilet rolls and toothbrushes, the Office for National Statistics said.

It is the biggest jump in the cost of living since 1982, when Consumer Prices Index reached 10.4 per cent, according to ONS estimates.

It is also a massive jump from the 9.4 per cent inflation in June.

Tory leadership rivals Liz Truss and Rishi Sunak have faced calls to take urgent action to help tackle the cost-of-living crisis, even as No 10 ruled out any co-ordination between Boris Johnson and his two would-be successors for immediate solutions.

Mr Sunak’s campaign hit out at his rival on Tuesday, urging her to “come clean” on her cost-of-living plan. Meanwhile, Ms Truss has reiterated her plan to cut taxes for households and said she will reject “sticking plaster” approaches.

Xural.com

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