UK inflation rises to a new 40-year HIGH | How high will it go?

GBNews published this video item, entitled “UK inflation rises to a new 40-year HIGH | How high will it go?” – below is their description.

The rate of inflation rose again in May, remaining at 40-year highs and deepening the squeeze felt by households across the UK, the Office for National Statistics (ONS) has said.

The rate of consumer prices index (CPI) inflation rose from 9% in April to 9.1% in May, the statisticians said.

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About This Source - GBNews

GB News is a free-to-air television and radio news channel in the United Kingdom. The channel is available on Freeview, Freesat, Sky, YouView, Virgin Media and via the internet. Since 4 January 2022, an audio simulcast of the station has been available on DAB+ radio.

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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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