UK inflation hits 40-year record, highest in G7

Reuters via Yahoo ^ | June 22, 2022

[Oldeconomybuyer]

UK consumers face an ever-higher bill for their weekly shop.

Inflation in the country hit a new 40-year high of 9.1% in May, with the rise driven by soaring food prices.

That leaves the country with the highest rate of inflation in the Group of Seven major economies.

And there could be worse ahead.

The Bank of England has said prices rises could hit 11% in October.

Now some investors judge the UK to be at risk of persistent inflation and recession.

That’s partly thanks to its large bill for imported energy, with prices driven higher by the conflict in Ukraine.

Some see that fuelling a so-called ‘summer of discontent’.

The country is already in the grip of sweeping rail strikes, as workers walk out over demands for higher pay.

[TexasFreeper2009]

the shut downs broke the world, thanks CHINA!!!

I can’t believe the world is letting China skate for all this.

[FarCenter]

The UK imports over half its food and about a third of its energy.

They are mainly dependent on London’s finance, insurance, and real estate service sectors.

[mewzilla]

That's may not be all that's hitting the UK...

Polio may be spreading in Britain for first time in 40 YEARS: Strain of paralysis-causing virus mutated from vaccine is 'likely' being transmitted in London as health chiefs declare 'national incident'

Vaccine derived polio...

[Tilted Irish Kilt]

Inflation in Britain hits 9.1% in May (an historic 40 year high rate)
“As Britain goes, so goes the world .. ? “

TexasFreeper2009 :” the shut downs broke the world, thanks CHINA!!!
I can’t believe the world is letting China skate for all this.”

(From the article): “ Inflation in the country hit a new 40-year high of 9.1% in May, with the rise driven by soaring food prices.
That leaves the country with the highest rate of inflation in the Group of Seven major economies." (the G-7)

"The Bank of England has said prices rises could hit 11% in October.
Now some investors judge the UK to be at risk of persistent inflation and recession.
That’s partly thanks to its large bill for imported energy, with prices driven higher by the conflict in Ukraine. “

“The country is already in the grip of sweeping rail strikes, as workers walk out over demands for higher pay. "

My Comment) : Where have we heard about historic inflation before ?
Our own food , energy, fuel, transportation and housing costs all with unexpected at new and higher inflation rates.
Since Britain is currently experiencing a railway workers strike, and the nation is pretty much in a nation wide lock-down status,
commercial and retail commerce is barely surviving except for basic commodities and food.
While in this country, ports on the West coast supply chain are looking at a probable dock works strike within a few months.
Buckle down folks, because if either the dock workers strike, or the truckers strike, we are in for dire straits.
Prepare now !

[Diana in Wisconsin]

“They are mainly dependent on London’s finance, insurance, and real estate service sectors.”

And ticket sales from that HUGE Ferris Wheel. So, it’s all good, Baby! ;)

We’re ALL going to be in a world of hurt sooner rather than later. :(