Analysis: UK among hardest-hit countries thanks to perfect storm of war in Ukraine, Covid and Brexit
Britain’s inflation rate has soared to the highest level since the early 1980s. After a record increase in gas and electricity bills in April, inflation is the highest in the G7. Having reached 9% last month, it is above the 8.3% rate in the US and Germany’s reading of 7.4%. Japan, an economy characterised by low inflation for decades thanks to an ageing population, has the lowest rate at 1.2%.
Here are some of the reasons why prices are rising faster in the UK than in other major economies.
