U.K. Inflation Spikes to Record High
The headline reading for consumer price inflation in the U.K. surged to a fresh record high of 4.7% from 4.4% in July as food prices rose at a record pace of 14.5%. Furthermore, the core measure of inflation ticked higher to 2.0% from 1.9%, which suggests that upward prices pressures may increase over the coming months. However, with oil prices tumbling lower, upside inflation risks could subside over the coming months as economic activity stalls.
- Swiss Inflation Falls from Record High, GDP Fails to Meet Expectations
- German Producer Prices Fall Back From Record High, Suggests Inflation Has Peaked
- Canadian Inflation Soars to 5 Year High On Gas Prices
- U.K. CPI Soars To Record High, Home Prices Decline
- U.K. Unemployment Rises, Jobless Claims Surge to Record High