In Great Britain, the already strong increase in consumer prices accelerated again. In March they rose by 7.0 percent compared to the same month last year, as the statistics office ONS announced on Wednesday in London. This is the highest rate since records began in 1997. Based on a historical model calculation, the ONS also comes up with the highest inflation rate since 1992, i.e. for 30 years. Analysts had expected an average rate of 6.7 percent. The cost of living rose 6.2 percent in February and 5.5 percent in January.
On a monthly basis, consumer prices also unexpectedly increased by 1.1 percent in March. Experts had expected 0.8 percent here.
According to the ONS, the price hike was broad. Fuel, metals and used cars became more expensive. There were also price increases for food in restaurants, hotels, furniture, clothing and shoes. The inflation rate is well above the British central bank’s target of two percent. The Bank of England has already raised interest rates several times to curb high inflation, while the European Central Bank (ECB) is still waiting. (dpa)