Economic Indicators
U.K. Inflation Hits 9% in April. Highest Since 1982
2022.05.18 09:25
By Geoffrey Smith
Investing.com — Inflation in the U.K. leaped to 9% in April. its highest level since 1982, as a thumping rise in regulated household energy bills took effect.
The consumer price index rose 2.5% on the month, the biggest monthly increase since 1991, as the cap on household electricity and gas prices was adjusted to reflect the sharp rise in wholesale prices caused by Russia’s invasion of Ukraine.
Core inflation, which strips out volatile food and energy prices, also rose strongly, by 0.7%, as a reopening economy quickly ran into bottlenecks caused partly by supply chain problems stemming from the pandemic. and partly by a skills shortage caused by the loss of European Union workers from the workforce.
