Inflation rose to 3.2% in August

Inflation in the UK rose sharply, to 3.2% for the twelve months ending in August and 2% for the twelve months ending in July, as prices for transport and restaurants rose as the economy reopened.

According to the National Bureau of Statistics, which released the data on Wednesday, 1.2 percent of the data recorded since the data began is the strongest since January 1997. But the ONS says the uprising should be temporary. . Last August, meal prices at restaurants were particularly depressed by a government subsidy from Boris Johnson.Eat outside to help“, In addition to the VAT reduction aimed at reviving the severely affected sector.

Prices of raw materials also contributed to the sharp rise, rising to 11% for the year ended August, and already 10.4% for July. Goods are in short supply due to supply chain problems and the lack of delivery drivers in the UK.

Registration is a sign that inflation is comingSays Yel Selphin, chief economist at KPMG. She “It may be a bit quiet in September but is expected to rise, after which it may rise further. Hiring difficulties, cost pressures on businesses, supply chain problems, and subsequent cowboy structural changes all point to an increase until at least the end of the year., She explains. This is “Bank of England will inevitably lead to questioning the timing of tightening monetary policy and interest rate hikes to avoid inflation risks on the horizon», Concludes the economist.

See also  Can the England football team fix England?

Leave a Reply

Your email address will not be published. Required fields are marked *