Inflation Takes Breath-taking Leap, Surging At Fastest Rate In Over 20 Years
The Consumer Price Index measure of inflation surged to 3.2% in August (up from 2% in July).Q2 2021 hedge fund letters, conferences and more This is the biggest jump ever recorded for this index (which started in 1997).Part of this is due to the ‘Eat Out to Help Out’ scheme running last August, which pushed prices down significantly a year earlier, and will drop out of the figures next month.But some of it is down to big rises that look set to stick around - including food, petrol and cars.The Bank of England expects inflation to hit 4% by the end of the year.The ONS has released inflation dat...