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Prices in the UK went up by 2.6% in the 12 months to November, the highest level for eight months. ... Inflation soared in 2022 because oil and gas were in greater demand after the Covid pandemic ...
UK inflation peaked at 11.1% in October 2022, driven to a 41-year high by surging food and energy costs. ... Although the European Central Bank cut rates earlier this month, it raised its ...
The UK inflation rate has gone up for the second month in a row, with prices rising at their fastest pace since March. Inflation hit 2.6% in the year to November, according to official figures.
Uk inflation history inflation hit 24% in 1975 and in 1976 the Sterling crisis occurred, followed by the Winter of Discontent [2]. The traditional measure of inflation in the UK for many years was the Retail Prices Index (RPI), which was first calculated in the early 20th century to evaluate the extent to which workers were affected by price changes during the First World War.
1 January – The warmest New Year's Day on record is reported, with temperatures of 16.2 °C (61.2 °F) in St James's Park, Central London. [2]3 January – COVID-19 in the UK: A critical incident is declared at several hospitals in Lincolnshire after the increased spread of COVID-19 causes "extreme and unprecedented" staff shortages.
By July 2022, inflation had risen to over 10%, the highest level in 40 years, and the Bank of England was forecasting it could reach 13% by the end of the year. Energy costs for the typical British household were expected to rise 80% from October 2022, from £1,971 to £3,549, [ 17 ] until Liz Truss , who was Prime Minister at the time ...
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