10.1%!The British inflation rate has reached the first time in 40 years.
Author:China Daily Time:2022.08.18
China Daily, August 17th. According to Reuters, the inflation rate of consumer prices in Britain in July jumped to 10.1%, the highest value since February 1982, making Britain the first prices to increase to double digits to double digits. The reason for wealthy economies is that the surge in food costs has exacerbated family budget tensions.
The inflation rate of 9.4%in June was higher than the forecast of all economists in Reuters' investigations, and exacerbated the investor's betting on the British Bank of England to continue to raise interest rates quickly.
Although this month warned that economic recession may occur, the Bank of England has increased its key interest rates to 1.75%-this is the first increase in 50 basis points since 1995. The inflation rate is expected to reach a peak of 13.3%in October, and the energy prices of households with control will rise again.
Citi Bank economist Benjamin Nabarro said that after the latest data is announced, he is now expected to reach a peak of more than 15%in early 2023. "He added:" With the signs of the British Central Bank's attention to more lasting inflation pressure, we believe that the current eagle response is almost inevitable.
In the earlier Reuters investigation this week, most economists have expected that the Bank of England will raise interest rates to 50 basis points to 2.25%after the next meeting in September.
The two-year British Treasury yield-sensitivity to interest rate expectations-set the highest value since 2008. Investors expect that the interest rate of the Bank of England's interest rate will reach 3.75%of the peaks around March 2023, higher than the previous 3.25%.
The United Kingdom is not the only country to face soaring, but it is the first economy in the seven -way Group to exceed 10%of the inflation rate.
British Finance Minister Nadhim Zahawi said that fighting inflation is his primary task, and the government is studying the plan to reduce family energy bills.
Data from the British Statistics (ONS) on August 17 showed that on the basis of non -seasonal adjustment, the price in July increased by 0.6%from June.
Annual food prices rose 12.6%-this is the biggest increase since 2008-the main reason for the jumper of CPI inflation in June to July, and the rise in energy and gasoline prices is the main driving force for the whole year. Takeaway foods are higher, as well as all -inclusive tourism.
The annual inflation rate of retail prices-a relatively old measurement indicator that is still widely used in commercial contracts, determines railway fares and government bonds-the highest value since March 1981 12.3%.
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