Inflation hits fresh 40-year high

UK inflation, the rate at which prices rise, climbed 9.1 per cent in the 12 months to May, a fresh 40 year high.

The ongoing surge is partly driven by energy costs, after an increase of £700 a-year in energy bills came into force last month.

Yet economists fear inflation will climb further in the months ahead, with the Bank of England estimating it could reach 11 per cent this year.

Modelling from the Office for National Statistics suggested this is the highest rate of inflation since at least 1982.

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Douglas Mateo

Douglas holds a position as a content writer at Neptune Pine. His academic qualifications in journalism and home science have offered her a wide base from which to line various topics. He has a proficiency in scripting articles related to the Health industry, including new findings, disease-related, or epidemic-related news. Apart from this, Douglas writes an independent blog and assists people in living healthy life.

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