Inflation in the UK is at its highest level in 40 years
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| Inflation in the UK is at its highest level in 40 years |
Official reports in England showed in mid-May 2022 that inflation in Britain rose to a 40-year high of 9% in April with the rise in food and energy prices, which led to an escalation of the cost of living crisis in the country.
Since April 1, the UK's Energy Regulatory Authority has raised household energy prices by 54% following a surge in energy prices, including a record rise in global gas prices.
The inflation rate rose by 2.5% on a monthly basis, which is less than expectations for an increase of 2.6%, which had forecast an annual increase of 9.1%.
The 9% rise in the consumer price index is the highest since 1989, surpassing the 8.4% annual rise recorded in March 1992.
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