Inflation - live: Boris Johnson accused of being on 'earth leave' as UK faces recession

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What is inflation? | Uncomplicated

The UK inflation rate has reached 10.1%, the highest level in 40 years.

The increase was largely due to the prices of food and basic items, including toilet rolls and toothbrushes, the Office for National Statistics said.

This is the biggest rise in the cost of living since 1982, when the Consumer Price Index hit 10.4%, according to ONS estimates.

It's also a massive jump from inflation of 9.4% in June.

Tory leadership rivals Liz Truss and Rishi Sunak have been called on to take urgent action to help tackle the cost of living crisis, even as No 10 ruled out any coordination between Boris Johnson and his two potential successors for immediate solutions.

On Tuesday, Mr Sunak's campaign hit out at his rival, urging her to 'confess' to her cost-of-living plan. Meanwhile, Ms Truss reiterated her plan to cut taxes for households and said she would reject 'sticky plaster' approaches.

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