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British inflation rises again and stands at 10.4%

British inflation rises again and stands at 10.4%

The year-on-year inflation in the United Kingdom It stood at 10.4% in February, compared to 10.1% in January, after having registered three consecutive months without promotions, the National Statistics Office (ONS) reported on Wednesday.

“The rise responded to an increase in the prices of food and non-alcoholic beverages, especially vegetables due to bad weather in Europe, which caused a drop in the arrival of food from European countries,” said ONS chief economist Grant Fitzner.

The increase also responded to the rise in the prices of alcohol sold in the “pub” (bars) and restaurants, he added.

“The fall in inflation is not inevitable, so we must stick to our plan to cut it in half this year,” said British Chancellor of the Exchequer Jeremy Hunt.

Last week, Hunt told Parliament that the UK will avoid a technical recession – two consecutive quarters of economic contraction – this year.

Due to the increase in the cost of living, the United Kingdom has experienced a series of strikes in recent months that have been supported by different sectors -postal workers, trains, buses, health workers or civil servants- demanding a salary increase.

The ONS reported yesterday that the UK unemployment rate stood at 3.7% between November 2022 and January 2023, the same as the previous quarter.

Source: EFE

Source: Gestion

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