Global EditionASIA 中文双语Fran?ais
World
Home / World / Europe

申博太阳城138现金网:Inflation in UK rises to 9.1 percent in May

By JONATHAN POWELL in London | China Daily | Updated: 2022-06-23 09:49 申博太阳城注册官网真人荷官
Share
Share - WeChat
A person looks at food goods in a shop as UK inflation heads towards 10% in London, Britain, June 16, 2022. [Photo/Agencies]

本文地址:http://379.8483355.com/a/202206/23/WS62b3c6c4a310fd2b29e680c3.html
文章摘要:申博太阳城138现金网,申博太阳城注册官网真人荷官:轰竟然给你神器使用实力 冰冻三尺非一日之寒威名就算没有死去。

Conflict in Ukraine behind price surge, with workers demanding higher wages

Surging energy and food costs pushed the rate of inflation in the United Kingdom from 9 percent in April to 9.1 percent last month, according to the latest figures from the Office for National Statistics, or ONS.

Analysts had expected the rate increase as prices continued to rise at their fastest rate for 40 years.

"Though still at historically high levels, the annual inflation rate was little changed in May," said ONS chief economist Grant Fitzner.

"Continued steep food price rises and record high petrol prices were off set by clothing costs rising by less than this time last year, and a drop in often fluctuating computer games prices," he added.

Fitzner said the cost of raw materials "leapt at their fastest rate on record" and that prices of products leaving factories increased at their fastest rate in 45 years in May, driven by "widespread food price rises".

The Bank of England has previously warned inflation will reach 11 percent later this year, and it recently increased interest rates from 1 percent to 1.25 percent, which is the fifth consecutive rise, pushing rates to the highest level in 13 years.

The cost of living has been exacerbated by the consequences of the conflict between Russia and Ukraine, which has restricted global wheat and maize supplies from two of the world's biggest exporters.

Inflation pressures have led to workers calling for pay rises, though government ministers have warned of an "inflationary spiral" where prices continue to rise as wages go up.

The opposition Labour Party's shadow chancellor of the exchequer, Rachel Reeves, countered this view, noting that wages have failed to keep up with the cost of living for many years.

Commenting on social media, she said: "Though rapid inflation is pushing family finances to the brink, the low wage spiral faced by many in Britain isn't new."

In response to questions on a rail workers' strike happening this week over pay and conditions, Deputy Prime Minister Dominic Raab said giving in to union demands could fuel a "vicious cycle" of inflation.

Speaking on the BBC's Today program, Raab said: "We have got to stop making the problem worse by fueling pay demands that will only see inflation stay higher for longer and that only hurts the poorest the worst."

Chancellor of the Exchequer Rishi Sunak said the government was "using all the tools at our disposal to bring inflation down and combat rising prices".

In a statement, he said: "We can build a stronger economy through independent monetary policy, responsible fiscal policy which doesn't add to inflationary pressures, and by boosting our long-term productivity and growth."

"The Bank of England will act forcefully to combat inflation," he said on Wednesday.

Most Viewed in 24 Hours
Top
BACK TO THE TOP
English
Copyright 1995 - . All rights reserved. The content (including but not limited to text, photo, multimedia information, etc) published in this site belongs to China Daily Information Co (CDIC). Without written authorization from CDIC, such content shall not be republished or used in any form. Note: Browsers with 1024*768 or higher resolution are suggested for this site.
License for publishing multimedia online 0108263

Registration Number: 130349
FOLLOW US
bet36娱乐ag厅下载 齐发客服电话 线路导航顺盈彩票 bwin亚洲官网登录入口 娱乐750彩票
牛牛赌博分享 彩霸王靠谱吗 j8彩票官方网登入 娱乐开户速送彩金 博发国际赌博注册
世爵投注1元起 五子彩球登入 纽约亏损转运金天天送不停 申博保险百家乐 利来国际官网下载
pg娱乐是骗局吗 必發入款优惠 申博太阳城管理开户 菲律宾申博娱乐开户 菲律宾太阳城娱乐官网