UK Latest: Inflation Data Adds Pressure on Bank of England

The video discusses the UK's inflation rate, which remains above 10%, driven by high food and drink prices despite a decrease in motor fuel costs. The Bank of England is likely to raise interest rates in response. The government, led by the Prime Minister and Chancellor Jeremy Hunt, prioritizes reducing inflation by year-end.

What is the significance of the annual rate of inflation for essential goods mentioned in the text?

What actions are expected from the Bank of England in response to the inflation figures?