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Cost of Living: Inflation hits 40-year high

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Inflation has hit its highest level in 40 years and the Bank of England has warned that the strain could result in recession and a surge in unemployment.

The rate shot up to 9% last month - its highest level since comparable readings in 1982.

And with the cost of living crisis continuing to deteriorate the economy, pressure is intensifying on the Chancellor to provide further relief to consumers and businesses, but he says he cannot protect people completely.

#Economics #Inflation #CostOfLiving

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Category
World
Tags
economy, finance, bank of england
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