Inflation rose to 7 to 9% at the end of April, and the Bank of England predicts that inflation will be more than 11% by the end of this year, triggering a crisis in the cost of living. Very simple families.
“Significant increase in food prices and record petrol prices” By neutralized in May “Low cost of clothing and the decline of computer games”Grant Fitzner, chief economist at ONS, commented on Twitter.
He says it may explain the relative change from month to month, but he mentions it “Prices of out-of-factory goods are rising at a rate not seen in 45 years” When “Commodity prices rose at the fastest rate ever recorded.”
“I know people are worried about the rising cost of living, which is why we have taken targeted action to help families.”Finance Minister Rishi Sunak said in a statement.
Mr Sunak, who has been accused of underperforming as the cost of living rises, announced a 15bn subsidy and tax on energy companies at the end of May, bringing the total assistance to 37bn. The cost of living announced this. Year by government.
“Currently there is no sign of declining inflation”The latter “Continued increase mainly due to external factors”According to Yael Selfin, Chief Economist, KPMG UK.
The Bank of England (BoE) last week announced its fifth consecutive rise in its key rate to 1.25%, a new record since 2009, in a bid to contain buying power in a bid to contain inflation. Weigh the economy.
UK gross domestic product (GDP) fell for the second consecutive month (-0.3%) in April. In the same month, the unemployment rate rose slightly to 3.8%, and wages in real terms, which were adjusted after rising prices, fell at the fastest pace in more than two decades.
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