# UK consumer prices 

**Published by:** [123usd](https://paragraph.com/@123usd/)
**Published on:** 2022-07-20
**URL:** https://paragraph.com/@123usd/uk-consumer-prices

## Content

UK consumer prices hit a 40-year high of 9.1% in May, the highest among the G7 leading economies — and is forecast to climb above 11% later this year despite a series of interest rate hikes. And households are feeling the strain. Eye-watering energy and grocery bills have thrown Britons into the worst cost-of-living crisis in decades. The Bank of England predicts that disposable incomes will suffer their second biggest decline this year since records began in 1964. * Grocery bill inflation hit nearly 10% in the four weeks ending on July 10, according to data from research firm Kantar released on Tuesday. That means that Britons can expect to spend an additional £454 ($545) this year on food and essentials. Energy bills, which rose by 54% in April, are estimated to top £3,000 ($3,603) per year for millions of households from October, according to energy research firm Cornwall Insight. That's when the government next adjusts a price cap that limits the amount suppliers can charge customers per unit of energy.

## Publication Information

- [123usd](https://paragraph.com/@123usd/): Publication homepage
- [All Posts](https://paragraph.com/@123usd/): More posts from this publication
- [RSS Feed](https://api.paragraph.com/blogs/rss/@123usd): Subscribe to updates
- [Twitter](https://twitter.com/MartineHairr): Follow on Twitter