Inflation in the United Kingdom reaches 9.1%, a 40-year record, as food and fuel prices continue to increase.
Britain’s inflation rate hit 9.1% in May, a new record in last 40-years high and up slightly on the previous month. The Office for National Statistics said consumer price inflation rose slightly from 9% in April, itself the highest level since 1982. as Russian invasion of Ukraine drove food and fuel prices ever higher. The Bank of England thinks worse is yet to come as the UK records the highest inflation rate out of the G7 countries. Rising food prices pushed the United Kingdom’s consumer price inflation to a 40-year high of 9.1 percent last month, the highest rate out of the Group of Seven countries. Rising food prices pushed the United Kingdom’s consumer price inflation to 9.1 percent last month. The cost of food and fuel in the U.K. has risen sharply in April. In the same month, millions of families saw their annual energy bills jump by 54%, amounting to an extra 700 pounds ($863) a year on average for each household.