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The 40-year record for inflation in Britain has been broken

The 40-year record for inflation in Britain has been broken
London: Inflation in the UK rose to a 40-year high of 9.1%.

According to the World News Agency, the UK is facing a monster of inflation and the Bank of England has also warned that an even worse situation is yet to come as the UK has the highest inflation rate among all the G7 countries.

The Bank of England said last week that with electricity prices set to rise in October, inflation could rise to 11 per cent, with inflation expected to remain above 9 per cent in the coming months.
Historical records from the UK’s Office for National Statistics show that May inflation was the highest since March 1982 and will continue to decline. Things will get worse.

The pound sterling is currently one of the worst performing currencies against the US dollar this year. It fell 0.6 percent to 22 1.22. That is why investors in the UK have been fearful of the risk of persistent high inflation and recession.

The UK is also currently facing Bridget’s continuing difficulties that could further damage trade relations with the European Union.

Hailey

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