Big League Politics By
According to official figures released on August 17, 2022, British consumer price inflation soared to 10.1% in July. This is the highest consumer price inflation figure since February 1982.
Per Press TV, this was a marked increase from June’s number, which stood at 9.4%.
This increase in inflation topped economists’ projections in a Reuters poll for inflation, where they expected inflation to rise to 9.8% in July. Earlier in August, the Bank of England raised its principal interest rate from 0.5% to 1.75%.
Economic forecasts for inflation are projected to be at 13.3% in October. As Press TV pointed out, this is “when regulated household energy prices are next due to rise.”
