Financial Analyst Explains The UK’s History Of Inflation as It Hits a 40 Year High | GMB

Good Morning Britain published this video item, entitled “Financial Analyst Explains The UK’s History Of Inflation as It Hits a 40 Year High | GMB” – below is their description.

Financial analyst Louise Cooper explains the history of inflation as it’s announced inflation has hit a 40 year high. The Bank of England has predicted that inflation will soar above 10% this year.

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In This Story: Bank of England

The Bank of England is the central bank of the United Kingdom and the model on which most modern central banks have been based. Established in 1694 to act as the English Government’s banker, and still one of the bankers for the Government of the United Kingdom, it is the world’s eighth-oldest bank.

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In This Story: Inflation

In economics, inflation refers to a general progressive increase in prices of goods and services in an economy. When the general price level rises, each unit of currency buys fewer goods and services; consequently, inflation corresponds to a reduction in the purchasing power of money.

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