Inflation in the UK in June amounted to 9.4%. It is now at its highest level in over 40 years.
9.4 percent is the June inflation figure, according to the British Statistical Office. Fuel prices have the biggest impact on the overall surge. In June, they were higher than a year earlier, by more than 42 percent. Food prices came in second place and jumped 10% in a year.
Crazy pace
According to the British department, fuel prices at filling stations rose by about 10 percent in a month. In June, the average price of a liter of gasoline rose by 18.1 pence. The prices factories pay for energy and materials have also risen significantly. In June they were more than 24 percent. higher than a year earlier. This is the highest result since 1985. Previously, statistics were not kept.
Disturbing forecasts
The UK currently has the highest inflation among the G7 countries. The United States is in second place with a recent recorded score of 9.1 percent. As predicted by the British central bank, the top is still far away. If the energy price ceiling for households rises again, inflation will reach 11% in October.
While the Bank of England raised interest rates cautiously, the main rate is now 1.25%. The next rate hike is likely to be announced in August. Analysts expect it to be higher than before.
A colleague from the Polish Monetary Policy Council is expected to raise interest rates to 2 percent. until September and up to 3 percent. until March next year. A Deutsche Bank expert admitted to Reuters that he plans to end the increase cycle at 2.5 percent.
Source: Wprost
