• UK inflation reaches 9.1% in May, the highest level since 1982.
• Bread, cereals, and meat experienced the greatest price increases.
• Experts predict inflation to reach double digits by September.
• The Bank of England anticipates that inflation would approach 11% in October.

In May, the UK’s inflation rate reached a new peak of 9.1%, its highest level since 1982.

Last month’s increase, which was fueled by increasing food costs, was consistent with experts’ projections that inflation will march higher in the coming months and reach double digits by September.

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The Bank of England anticipates that the inflation rate would approach 11% in October, much higher than comparable G7 nations.

The rise in inflation will increase the cost of living pressure on households, heighten the demand for wage increases to balance increased costs, and make it more difficult to resolve labor disputes, such as those on the railways.

Prices have increased across the board for goods and services. Bread, cereals, and meat experienced the greatest price increases, totaling 1.5 percent in the month alone.

In May, the Office for National Statistics reported that the price of road fuel was 32.8% higher than it was one year prior, the biggest annual increase in this category since detailed indexes were first compiled in 1989.

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The ONS chief economist, Grant Fitzner, stated that there is still more inflation on the horizon for UK factories, indicating that price pressures are still intensifying. “The price of goods leaving factories rose at their fastest rate in 45 years, driven by widespread food price rises, while the cost of raw materials leapt at their fastest rate on record,” he said.