Britain’s statistics agency reported on Wednesday that UK consumer prices rose 2.5% in June compared to a year earlier. This is the highest level since August 2018.
Inflation has risen sharply for several months: from 0.7 percent in March to 1.5 percent in April and 2.1 percent in May. The June rate was also higher than analysts had expected. They assumed inflation was 2.2%.
Food and fuel in particular became more expensive which led to higher inflation. Inflation is also rising in other industrialized countries. In the US, it hit 5.4 percent in June, it turned out on Tuesday. This was the highest level in nearly thirteen years.
In the eurozone, inflation was 2 percent in May, compared to 1.6 percent in April.
Inflation has risen sharply for several months: from 0.7 percent in March to 1.5 percent in April and 2.1 percent in May. The June rate was also higher than analysts had expected. They assumed an inflation rate of 2.2%. Food and fuel in particular became more expensive which led to higher inflation. Inflation is also rising in other industrialized countries. In the US, it hit 5.4 percent in June, it turned out on Tuesday. This was the highest level in nearly thirteen years. In the eurozone, inflation was 2 percent in May, compared to 1.6 percent in April.
