Cost of living crisis: UK inflation hits 40-year high of 9%

Channel 4 News published this video item, entitled “Cost of living crisis: UK inflation hits 40-year high of 9%” – below is their description.

It hasn’t been this bad since the early 1980s. Confirmation today that in the year to April, inflation hit a 40-year high.

The figure of 9% was expected and yet shocking – the government seemingly at a loss.

The prime minister promised to look at “all measures” that might help, but his chancellor admitted they “cannot protect people completely”.

Opposition politicians and campaigners accused the government of not protecting people at all and called for an emergency budget, and a windfall tax on oil and gas producers.

Channel 4 News YouTube Channel

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About This Source - Channel 4 News

Channel 4 News is the news programme from UK Channel 4 television. Channel 4 is a British public-service free-to-air television network headquartered in Leeds, United Kingdom. The channel was established in 1982 to provide a fourth television service to the United Kingdom in addition to the licence-funded BBC One and BBC Two, and the single commercial broadcasting network ITV.

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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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