U.K. Inflation Hits 30-Year High, Prompting Expectations of Rise in Interest Rates

Consumer prices in the U.K. increased 5.4% in December compared with a year earlier, strengthening the case for further interest-rate rises as the country’s economy emerges from the Omicron wave

Economic Performance/Indicators, Inflation Figures/Price Indices

1/19/2022 2:45:00 PM

Consumer prices in the U.K. increased 5.4% in December compared with a year earlier, strengthening the case for further interest-rate rises as the country’s economy emerges from the Omicron wave

Consumer prices in the U.K. rose 5.4% in December compared with a year earlier, strengthening the case for further increases in the Bank of England’s key interest rate as the country’s economy emerges from the Omicron wave.

The Bank of England last month becameEconomists expect growth took a hit in December as households hunkered down in response to the new coronavirus variant. But cases are nowPhoto:Consumer prices in the U.K. rose 5.4% in December compared with a year earlier, the Office for National Statistics said Wednesday—the biggest annual jump since March 1992. Economists polled by The Wall Street Journal had expected prices to rise by an annual 5.2%, following a 5.1% increase in November.

After that, economists are expecting inflation to fall back as the global economy recovers and supply-chain kinks work themselves out.As the Federal Reserve and other central banks around the world deal with rising inflation amid the economic recovery from the pandemic, Turkey -- where the rate is currently over 20% -- offers a warning. Soaring inflation has led to economic turmoil after years of broad growth. Photo: Sedat Suna/Shutterstock

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Damn Biden! wait how is Brandon increasing UK inflation as well Thats pretty good. In Turkey they have increased about 50%. I urge you to also post an article about that as well. SPREAD THE WORD: MAC MILLER MOLESTED CHILDREN

Explainer: UK inflation nears 30-year high, but how fast will it fall back?British consumer price inflation looks set to hit a 30-year high of 6% or more in April, but the big question for the Bank of England and the wider public is how quickly it will then fall back. It falls now Transitory......ask America 😂 robertojirusta

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