Reuters news agency and The Guardian newspaper quoted data from the Office for National Statistics (ONS) as saying that the inflation rate in February 2022 reached the highest level since 1992 in the context of fuel and energy prices. and food in the UK increased.
This inflation rate exceeded all calculations of analysts, causing the cost of living of people in the “fog country” to increase and put a lot of energy on British Finance Minister Rishi Sunak right before the announcement. announced the spring spending report, scheduled for March 23 (UK time).
Minister Sunak is also facing increasing calls for more support amid tight budgets for households. Commodity prices in the UK are rising faster than wages and the Bank of England thinks inflation could hit double digits this year.
It was widely speculated that the UK Treasury could cut fuel taxes, boost welfare and improve the national insurance scheme when Mr. Sunak unveiled his spending plan.
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