U.K. Inflation Soars By 3.2% in August, The Highest On Record
U.K. inflation has shot up by 3.2% in August YoY from 2% YoY in July. This is the biggest monthly rise in the historical series, which began in 1997. Analysts expected a minor rebound to 2.9%. Q2 2021 hedge fund letters, conferences and more U.K. Inflation At A Record HighAs confirmed by the Office for National Statistics (ONS), the monthly rise in the general CPI was 0.7% –above the 0.5% predicted by analysts. However, the agency has specified that this large monthly rise "is likely to be a temporary rise." In this sense, the ONS has explained that the greatest contribution to the rise is a b...