That is up from 9.0 percent the month before. The inflation level is the highest that the UK has had in 40 years.
In mid-June, the Bank of England raised its key interest rate by 25 basis points (0.25 percentage points) to 1.25 percent.
It was the fifth month in a row that the policy rate in the UK was raised. At the same time, the central bank announced that it expects inflation above 9 per cent in the next few months and as much as around 11 per cent in October.
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1 min 29 sec.
Inflation in Sweden this year is expected to be the highest in decades. But what does that mean? What exactly is inflation? How do you know it’s rising, and why does it matter?