BREAKING: Inflation hits 40-year high of 9.1%

Sky News published this video item, entitled “BREAKING: Inflation hits 40-year high of 9.1%” – below is their description.

Inflation has hit a new 40 year high, rising to 9.1 percent in May, as the cost of living crisis escalates.

The Chancellor Rishi Sunak has said the government is doing all it can to combat rising prices and build a stronger economy.

#railstrike #inflation #skynews

Sky News YouTube Channel

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About This Source - Sky News

Sky News is a British free-to-air television news channel and organisation. Sky News is distributed via a radio news service, and through online channels. It is owned by Sky Group, a division of Comcast. John Ryley is the head of Sky News, a role he has held since June 2006.

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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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Rish Sunak is a British Conservative Party MP, who was originally elected as a Member of Parliament in the Richmond (Yorks) constituency in 2015.

His father-in-law is billionaire founder of Indian IT giant, Infosys, NR Narayana Murthy.

Sunak experienced a meteoric rise, first to be selected for the “safest” Conservative seat in the UK, he would later become the UK Chancellor of the Exchequer in under five years.

Brief Biography Here.

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