Kinh tế

Inflation is at a record high, British people hesitate to shop

Rising electricity and gas bills are exacerbating the country’s cost of living crisis.

At a market in London, England, trading activities are still taking place every day, but the atmosphere seems to have been quieter than before. Both sellers and buyers clearly feel the burden of rising prices. Sellers have a headache to calculate input costs, and buyers have to consider and hesitate more when shopping.

“I wrote down the things I didn’t need to buy. And I definitely had to change some spending habits. I had to get a second job, and was actually looking for a third job.” Ms. Celena Duberry, resident of London, England, shared.

Inflation is at a record high, British people hesitate to shop - Photo 1.

British people shopping at a supermarket. (Image: Getty Images)

“My business is down by at least 50%, because people now only buy what they really need. Electricity, gas increase, everything goes up,” said Mr. Hama Henin, a small trader.

Inflationary Consumer prices in the UK rose from 7% in March to 9% in April, the highest in the G7 and one of the highest in the advanced economies around the world.

Rising raw material prices have put additional pressure on manufacturers to raise prices, driving up prices for food, transport equipment and metals, machinery and equipment.

Many households are struggling as prices rise much faster than incomes. UK consumer confidence has now dropped to an all-time low.

Meanwhile, experts said that the trend of inflation continues to increase, which is likely to push the Bank of England to continue raising interest rates to “cool down” the economy.

* Invite readers to watch programs broadcast by Vietnam Television on TV Online and VTVGo!

You are reading the article Inflation is at a record high, British people hesitate to shop
at – Source: – Read the original article here

Back to top button