Expect a sharp rise in inflation in the UK

The Bank of England is set to raise interest rates next month, and people believe the current trend will lead to rising inflation in the next 12 months. The country has continued and we are witnessing a significant rise in prices.

Forty-eight percent of those polled by the GFK said they expected consumer prices to rise significantly in the next 12 months, up from 34 percent in September.

The last time about half of the population thought prices would rise, as they do now, was in 1985, when Margaret Thatcher became Prime Minister, and the Bank of England was not yet practically independent. Rising inflation expectations have been fueled by the sharp rise in gas prices in the UK, which has caused many suppliers in the country to go bankrupt and the British people to face high gas bills by 2022.

The easing of coronary restrictions, on the one hand, and the lack of adequate labor, on the other, along with the consequences of Britain’s exit from the European Union, have led to a disruption of the commodity supply cycle internationally and rising inflation in Britain.

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