United Kingdom: Inflation at 40-year high

The British in the area of ​​strong unrest. According to the Office for National Statistics (ONS), the year-on-year inflation rate jumped 9% in April. This increase, mainly linked to rising energy prices, should exacerbate the cost of living crisis in the United Kingdom.

At the end of March, the inflation rate was 7%, the ONS recalled, adding that the April rate was the highest since inflation data existed, i.e. 1989, but according to estimates, this rate “should have been higher for The last time was around 1982”.

general increase in prices

“Inflation rose sharply in April due to a sharp rise in electricity and gas prices”, commented ONS chief economist Grant Fitzner. “The sharp year-over-year increase in the cost of metals, chemicals and crude oil also continued, as was driven by higher prices for products leaving the factory,” he says.

The Chancellor of the Exchequer, Rishi Sunak, argued in a statement that “countries around the world are facing rising inflation” and that April inflation in the UK comes from energy, fueled by prices in world markets. “We cannot completely protect people from these global challenges, but we are providing remarkable assistance where we can, and we stand ready to do more,” he said.

increasing pressure on the government

Across the channel, there is growing criticism against the government’s action considered inadequate given the cost of living crisis. Many organizations also speak of inaction on the part of the government, while millions of Britons now have to restrict their food or their heating. In early May, pressure was strong on Rishi Sunak, whose inflationary response was already considered too timid.

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On Monday, Bank of England Governor Andrew Bailey called the situation “doomsday” for food prices and warned that inflation, which in the UK is expected to reach 10% by the end of the year, could rise even higher. If Ukraine fails to export its crops.

AFP. with

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