CPI inflation rate hits 5.1%

15 December 2021

The Office of National Statistics (ONS) has released the latest data on national inflation rates, showing the highest rise in ten years, to 5.1%.

This index is based on the price of consumer goods and is currently heavily impacted by the recent rises in fuel and energy prices. Experts say this figure could rise to over 6% in the coming months.

With the Bank of England declining to increase interest rates last month, citing the end of the furlough scheme as a reason to wait and see if the economy corrects itself, could we see it soon reacting to attempt to curb the rises we are seeing?

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