Inflation in the UK rose last month to its highest level in 40 years as the Russian operation in Ukraine sent food and fuel prices further up.
And the UK Office for National Statistics said that “consumer price inflation accelerated from 7 percent the previous month to 9 percent in the 12 months to April, reaching its highest level since 1982, when inflation reached 11 percent, according to statistical models. Office for National Statistics.
Millions of households across Britain faced a 54% rise in their gas and electricity bills last month after regulators raised energy price ceilings to reflect earlier increases in wholesale prices. Russia’s “special” military operation in Ukraine further affected food and energy prices. The statistics are expected to increase pressure on the government to ease a cost-of-living crisis that economists say will lead to the biggest drop in living standards since the 1950s.
Source: El Iktisad
