June 21, 2024

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Inflation rises in UK, hitting record high in a decade |  Economy

Inflation rises in UK, hitting record high in a decade | Economy

Inflation rose to 5.1% year-on-year in the UK in November, the highest level in more than 10 years, the National Bureau of Statistics (ONS) said in a statement on Wednesday (15).

The index has already registered a strong increase to 4.2% in October from 3.1% a month ago.

The increase in consumer prices in November was the most significant since September 2011, reaching 5.2%.

The rise is being highlighted not only by fuel prices, especially petrol, but also by Gran Fitzner, ONS ‘chief economist.

Inflation affects a wide range of categories: clothing, food, used cars and cigarette taxes.

Economists have warned that inflation will rise in the coming months.

The combination of the effects of the epidemic and Brexit, the problems in the supply chain “may increase inflation to 5.6% in December, in addition to the extension of supply times during the critical period of Christmas” and may exceed 6%. April, KPMG’s economist Yale plans a selfie.

In this context, the unions are intensifying wage negotiations as they lose purchasing power, and there are even threats of strikes in various sectors, from the automobile industry to supermarkets and urban cleaning.

The UK accepts the ‘Govt Pass’ for major events