Liz Truss appointed UK prime minister

The new leader of Britain's ruling Conservative Party, Liz Truss, has taken office as Prime Minister.

Truss traveled to Scotland's Balmoral Castle on Tuesday to meet Queen Elizabeth who formally appointed her to the job.

The change in leadership comes at a time when inflation in the UK is above 10 percent. Household energy bills are set to increase by 80 percent next month, when Britain's energy regulator will raise its price cap.

Truss has pledged to cut taxes and address the energy crisis.