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High inflation plunges millions of Britons into extreme poverty

High inflation plunges millions of Britons into extreme poverty

In the UK, inflation rose to 9.1% – the highest level in 40 years. The crisis is deepening and the resistance is burning.

Another figure that would greatly annoy millions of Britons. On Wednesday, the Office for National Statistics (ONS) reported that inflation in the UK rose to 9.1% in May. This is the highest value in forty years. not in any other 7 . st– Countries prices are rising very quickly. Food prices in particular are to blame for inflation, the Office for National Statistics writes, and higher gasoline prices have fueled inflation. For many families, the statistics confirm what they have long known: the cost of living crisis will intensify.

The state of the British economy can be described by a number of discouraging superlatives. High inflation will help reduce living standards by more than 2 percent in the next year. Electricity and gas costs suddenly rose more than 50 per cent in early April, and in October they will rise by another £800 a year, to an average of £2,800 – also a record. On the other hand, Social Security benefits will fall by five percent this year, adjusted for inflation.

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