August 16, 2022

UNITED KINGDOM Inflation Hits 40-Year Higher

Consumer prices rose 9. 4% within June amid worsening living costs crisis

Inflation in The uk accelerated at a faster speed than expected in 06 and hit 9. 4% year-on-year, the highest increase considering that February 1982, according to data released by the Office with regard to National Statistics on Wed.

The Consumer Prices Index was expected to rise by 9. 3% in June, from nine. 1% in May. Prices meant for motor fuels and food made the largest upward contributions to the change, the UK’s statistics body said.

According to its statistics, the annual increase for transport was 15. 2%. The prices of food and non-alcoholic beverage surged by nine. 8% from a year ago, the most since March this year.

Last month, the Bank of England prediction inflation to peak at 11% in the autumn, also it reportedly plans a half-point interest rate hike in August, after a quarter of a point increase in June.

The revolution will not be televised .

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