Inflation clouded economic crisis in Britain, forcing millions to skip meals

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- The UK's Office for National Statistics released consumer price index-based inflation data for September, which showed the index rose 10.1 percent for the month. Inflation rose to 9.9 percent in August.

- Food inflation in Britain rose to 14.5 percent from a year earlier. This is the highest food inflation since 1980.

New Delhi, 20 October 2022, Thursday

The ever-rising oil prices and inflation since the Russia-Ukraine war have created an uproar around the world. Meanwhile, its greatest impact has been seen in Britain. According to a report, people in Britain are giving up one-time meals due to rising inflation. It is being called the biggest economic crisis of the present time.

A survey of 3,000 people by consumer group Head of Policy Witch found that almost half of UK households are skipping meals. Additionally, nearly the same number of people report their inability to purchase healthier foods than ever before. In addition, nearly 80 percent of Britons have complained of increasing financial burdens. According to Sue Davies, head of the consumer group, this livelihood crisis is causing millions of people to skip their meals or have healthy foods missing from their plates. What's more, the UK government's decision not to cut energy prices will leave people without heating systems in their homes this winter.

Inflation in the UK is at a 40-year high

In Britain, the report comes as inflation rose to a 40-year high of 10.1 percent in September. The UK's Office for National Statistics released consumer price index-based inflation data for September on Wednesday, saying the index rose 10.1 percent for the month. Inflation rose to 9.9 percent in August.

Inflation in the UK has reached its highest level since the start of 1982, new inflation figures show. During this period, inflation touched this level in July 2022 as well. Food products were the major contributor to the sharp rise in inflation in September, the Statistics Office said. Food inflation during this period rose to 14.5 percent from a year earlier. This is the highest food inflation since 1980. Given this high level of inflation, the possibility of a further increase in the policy interest rate by the Bank of England has increased. The British central bank has been trying to get inflation down to 2 percent, but so far it has failed.

The challenge will be to return financial stability

At the same time, restoring financial stability will be more of a challenge for new finance minister Jeremy Hunt. Hunt, who took office last week, said the government would prioritize helping vulnerable people.

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