Indicator - Economy - the British are in trouble: Inflation data unseen for decades has arrived

Indicator – Economy – the British are in trouble: Inflation data unseen for decades has arrived

The 12-month inflation figures in June were 9.4% in Great Britain. As measured by the British Statistics Office, the 12-month inflation rate in July is the highest since the monthly measurement of annual inflation was carried out using the current methodology – there is a new calculation method from January 1997. More recently, on the basis of data calculated even earlier with modeling

In January 1982, annual British inflation was higher than current figures.

According to the analyzes, it was the rise in food prices that contributed significantly to the monthly increase. Bloomberg to me This means that inflationary pressure has already spread outside the energy sector.

“Food prices rose significantly, particularly bakeries, dairy products, meat and vegetables,” said Grant Fitzner, chief economist at the Office for National Statistics, adding that “other commodities also boosted inflation in July.”

The core inflation rate – which does not include energy, food, alcohol and tobacco – was 6.2 percent in July compared to a year ago. Both inflation data beat analyst expectations.

Could the crisis come?

Economists are increasingly pessimistic about the UK, with rising cost pressures raising the possibility of a recession. The British Statistics Office expects this

The recession begins in the fourth quarter and continues through the beginning of 2024.

From the current figures, it can be seen that the crisis of living is getting closer and closer. According to the central bank, inflation will continue to accelerate this year, when regulatory authorities will allow energy bills to rise again.

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