UK inflation at forty-year high

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UK inflation at forty-year high

Inflation in the UK rose to 9.1 percent in May. According to the data released, inflation reached a forty-year high with wide-ranging price increases from fuel to food, electricity to beverages.

UK inflation at forty-year high

According to data from the UK Statistics Authority, annual consumer inflation rose from 9 percent in April to 9.1 percent in May.

The monthly CPI increase was 0.7 percent in May, up from 2.5 percent in April. Both inflation data came in line with economists’ expectations.

On the other hand, railroad workers have been on strike in the country for the last 1 week. More than 50 thousand members of the Railway, Maritime and Transportation Union RMT declared a strike for 3 days this week.

Due to the strike, train stations in England, Scotland and Wales and the London subway were closed.

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