UK Parliament: cost of living statistics

A Research briefing issued by the House of Commons last week highlights that:

• Consumer prices, as measured by the Consumer Prices Index (CPI), were 9.1% higher in May 2022 than a year before
• Bank of England forecasts that inflation will reach 11% in October this year
• In May 2022, the UK’s annual inflation rate of 9.1% was higher than in some comparable economies such as France (5.8%), Germany (8.7%) and the Eurozone average (8.1%).

Source: UK Parliament