Inflation in Britain has risen again: what does it mean for Ukrainian tourists.

According to The Sun: In July, inflation rates in the United Kingdom rose, reaching their highest level since December 2023.

The Office for National Statistics (ONS) reported that the inflation rate according to the Consumer Price Index (CPI) was 3.8% for the 12 months to July.

This compares to 3.6% for the 12 months to June. Inflation is an indicator of the cost of goods and services over a certain period.

Rising inflation figures mean that prices are increasing faster than last month, leading to higher costs for food and utility bills.

The Bank of England predicts that inflation will rise this year, peaking at 4% in September and then gradually declining over the next two years.

In a comment regarding the increase in inflation, Shadow Business Minister Andrea Griffith blamed this inflation 'squarely on the doorstep of Downing Street.'

At the same time, Chancellor Rachel Reeves acknowledged that 'more work needs to be done to ease the cost of living' after the release of the figures.

This came just a week after the ONS reported that GDP grew by 0.3% between April and June – less than 0.7% in the January to March period, but stronger than analysts had expected.

The Retail Price Index (RPI) for July 2025 was also announced. This figure was 4.8%, which was higher than what analysts had anticipated.

Typically, each year the government uses the July figure of the Retail Prices Index (RPI) to calculate how much fares will increase each year.

The percentage increase in fares this year by 4.6% was higher than the RPI in July 2024 by one percentage point.

In light of the current figures, personal finance expert Alice Hayne stated that savers should continue to seek the best deals.

She explained: 'As saving rates are likely to drop in the coming months, finding the best deal is key.

'Rates may be decreasing, but they remain competitive, so savers with significant amounts need to pay close attention to their personal savings allowance (PSA).

Higher-rate taxpayers have just £500 of final income before tax on the interest they earn – half that of basic rate taxpayers – while additional rate taxpayers have no limits at all.

Ukrainian inflation is rising, reaching its highest level since December 2023. Inflation is also increasing in the United Kingdom, leading to higher costs for goods and services. Experts predict further price growth in % in the UK, but a slowdown in inflation rates will occur over the next two years.