Rising prices in UK set a record

Inflation in the UK in annual expression at the end of November grew by 5.1 percent, writes CNBC with reference to the national statistical service. This is the maximum indicator over the past 10 years – since September 2011.

Reuters economists predicted that the indicator will be set at a mark of 4.7 percent, and the Bank of England expected the achievement of five percent only in the spring of 2022. The greatest contribution to the acceleration of inflation has made a rise in price of clothing, fuel and used cars. According to the end of July, it was two percent in annual terms, but over the next four months it rose by 3.1 percentage points, showing a record rapid increase in the history of Great Britain.

Consumer price index – the main financial indicator for measuring inflation in many countries of the world – increased by 0.7 percent in November compared with October. The basic consumer price index that does not include energy prices, food, alcohol and tobacco, increased by four percent year in annual terms and 0.5 percent on a monthly basis.

Inflation data announced on the eve of the meeting of the Bank of England, which will be held on Thursday, December 16. The regulator was in front of the choice: on the one hand, the accelerated increase in prices pushes it to increasing the key rate, on the other – this may not happen due to the weak data on GDP for the third quarter and the rapid spread of the omicron strain of coronavirus.

In early December, the US Department of Labor reported record inflation for 39 years who had reached 6.8 percent. Over the past 12 months, gasoline has more risen in price (plus 58.1 percent), energy carriers (plus 33.3 percent) and used cars (plus 31.4 percent).

/Media reports.