The UK consumer price index stood at 7% in March, compared to 6.2% the previous month, which is highest rate since 1992reported this Wednesday the National Statistics Office (ONS, in English).
The rise in inflation responded to the increase in the prices of electricity, gas and fuel, as well as transport and the prices of the materials used by the industrial sector.
British inflation rose more than 6.7% analysts had estimated.
According to Grant Fitzner, chief economist at the ONSthe general increase in prices was pronounced in March, but especially that of fuel.
“The prices of restaurants and hotels also rose sharply in Marchwhile, after a drop a year ago, there were increases in different types of food,” he added.
“Prices for products leaving UK factories have continued to steep climb“, indicated Fitzner, who mentioned among them those of metals.
To contain the increase in inflation, the Bank of England raised interest rates in the United Kingdom from 0.5% to 0.75% last month, the third increment consecutive that the entity undertook in order to contain inflation.
That was the third rise experienced in four months in an attempt by the english issuing bank to offset the rise in the cost of living in the UK.
Experts do not rule out another rise in price of money because inflation is well above the 2% target set by the Bank of England.