Inflation in Britain rises again to the highest level in 40 years

The biggest jump in food prices in Britain since 1980 pushed inflation back above 10% last month to match a 40-year high reached in July, dealing a new blow to families struggling to cope with the country’s cost of living crisis. Britain’s Office for National Statistics said its consumer price index rose 10.1 percent year-on-year in September. Economists polled by Archyde.com had expected a reading of 10 percent, following rising 9.9 percent in August. The British pound fell below $1.13 following the data and was last down 0.2 percent. Prices of food and non-alcoholic beverages were the biggest catalyst for the rise in inflation in September, increasing by 14.5 percent, the largest jump since April 1980.