HomeEconomicInflation record fell in UK. Highest level in 10 years

Inflation record fell in UK. Highest level in 10 years

According to the latest figures, inflation in the UK has reached 5.1 percent. This is the highest figure in a decade.

More expensive food, clothing and fuel – this is how the British feel the rising inflation. The last time inflation hit this level, David Cameron was prime minister, and the country was finishing construction of stadiums for the next year’s Olympics. The word “Brexit” did not exist yet. It was September 2011.

Great Britain. Problems

Inflation is on the rise due to fuel prices as well as problems with the global supply chain. There is also a labor shortage, which is partly due to Brexit.

The government says it is aware of the problem and recalls that it has already frozen excise taxes on fuel and alcohol and relaxed rules on low-income incentives. But the opposition believes the Conservatives are doing too little and that rising electricity bills mean a nervous break for many islanders.

Hard data

Consumer prices in the UK rose 4.2% y / y in October, according to a report from the statistical office. Researchers had expected an increase of 3.9% after inflation hit 3.1% a month earlier. However, inflation is now at its highest level in a decade. This puts more pressure on the Bank of England.

As shown by monthly data for October, consumer prices rose by 1.1% against growth by 0.3% a month earlier and forecasted at 0.8%. Core inflation in October was 3.4% against 2.9%. in September and forecasts at 3.1 percent.

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