HomeEconomicInflation in the UK has reached a 30-year high

Inflation in the UK has reached a 30-year high

In February, inflation in the UK accelerated to a 30-year high of 6.2 percent, according to Reuters.

This value is higher than analysts expect.

British Finance Minister Rishi Sunak is expected to announce measures later today to mitigate the sharp rise in spending on basic goods and services.

The average forecast of economists surveyed by Reuters was 5.9 percent, and only 39 experts said such high figures.

According to British statistics, the biggest boost to inflation in February came from energy and petrol prices.

On a monthly basis, consumer prices rose by 0.8 percent, the strongest monthly increase since February 2009.

Last week, the Bank of England raised its inflation forecast to a maximum of 8 percent for April-June.

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