UK: Inflation rises to 40-year high

High inflation in the UK continues to rise. In May, consumer prices rose by 9.1 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. A back calculation by the ONS comes to the conclusion that inflation was probably last higher in 1982. The statisticians made a similar statement in the previous month when the inflation rate was 9.0 percent.

According to the statistics office, the biggest contributor to the high inflation is currently the rising prices for food and non-alcoholic beverages. On the other hand, inflation in the leisure and recreation sector has weakened somewhat, as has that for clothing and shoes. The British central bank has been fighting high inflation for some time by raising interest rates. It has raised its key interest rate several times since November to currently 1.25 percent. (dpa)