{"id":1303466,"date":"2022-02-16T15:41:36","date_gmt":"2022-02-16T20:41:36","guid":{"rendered":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/?p=1303466"},"modified":"2022-02-16T15:41:50","modified_gmt":"2022-02-16T20:41:50","slug":"conservative-government-uk-inflation-now-at-highest-rate-since-1992","status":"publish","type":"post","link":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/conservative-government-uk-inflation-now-at-highest-rate-since-1992\/","title":{"rendered":"&#039;Conservative&#039; Government: UK Inflation Now at Highest Rate Since 1992"},"content":{"rendered":"<aside class=\"mashsb-container mashsb-main mashsb-stretched\"><div class=\"mashsb-box\"><div class=\"mashsb-count mash-medium\" style=\"&quot;\"><div class=\"counts mashsbcount\">20<\/div><span class=\"mashsb-sharetext\">SHARES<\/span><\/div><div class=\"mashsb-buttons\"><a class=\"mashicon-facebook mash-medium mash-nomargin mashsb-noshadow\" href=\"https:\/\/www.facebook.com\/sharer.php?u=https%3A%2F%2Fwww.conservativenewsdaily.net%2Fbreaking-news%2Fconservative-government-uk-inflation-now-at-highest-rate-since-1992%2F\" target=\"_top\" rel=\"nofollow\"><span class=\"icon\"><\/span><span class=\"text\">Facebook<\/span><\/a><a class=\"mashicon-twitter mash-medium mash-nomargin mashsb-noshadow\" href=\"https:\/\/twitter.com\/intent\/tweet?text=&amp;url=https:\/\/www.conservativenewsdaily.net\/breaking-news\/?p=1303466&amp;via=ConservNewsDly\" target=\"_top\" rel=\"nofollow\"><span class=\"icon\"><\/span><span class=\"text\">Twitter<\/span><\/a><a class=\"mashicon-subscribe mash-medium mash-nomargin mashsb-noshadow\" href=\"#\" target=\"_top\" rel=\"nofollow\"><span class=\"icon\"><\/span><span class=\"text\">Subscribe<\/span><\/a><div class=\"onoffswitch2 mash-medium mashsb-noshadow\" style=\"display:none\"><\/div><\/div>\n            <\/div>\n                <div style=\"clear:both\"><\/div><\/aside>\n            <!-- Share buttons by mashshare.net - Version: 4.0.47--><div><img decoding=\"async\" src=\"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-content\/uploads\/2022\/02\/GettyImages-1238444667-e1645022030819-640x335-1.jpg\" class=\"ff-og-image-inserted\" alt=\"image\" \/><\/div>\n<p class=\"subheading\">LONDON (AP) \u2013 Inflation in the United Kingdom has risen at the fastest rate in almost 30 years as increased costs for energy, housing and transportation squeezed household budgets.<\/p>\n<p>The consumer price index ticked up to 5.5% in the 12 months through January and was up from 5.4% the previous month, the Office for National Statistics said Wednesday. The latest figure is the highest since March 1992, when inflation reached 7.2%.<\/p>\n<figure id=\"D-ROS-B1\" class=\"a8d\"><\/figure>\n<figure id=\"M-ROS-B1\" class=\"a8d\"><\/figure>\n<figure id=\"gmxrevmore\" class=\"H\"><\/figure>\n<p>By comparison, U.S. consumer prices jumped 7.5% last month \u2013 the highest rate in 40 years \u2013 while they increased to a record 5.1% in the 19 countries that use the euro.<\/p>\n<p>U.K. consumers are reeling from a surge in utility bills fueled by increased demand for energy worldwide as the global economy recovers from the COVID-19 pandemic. Household natural gas prices jumped 28.3% over the past year and electricity prices rose 19.2%. By comparison, U.S. gas prices increased 23.9% and electricity prices rose 10.7%.<\/p>\n<blockquote class=\"twitter-tweet\" data-width=\"550\" data-dnt=\"true\">\n<p lang=\"en\" dir=\"ltr\">Gas at $7.70 a Gallon? UK Pump Prices Hit New Highs<a href=\"https:\/\/t.co\/L87bZGdJcw\">https:\/\/t.co\/L87bZGdJcw<\/a><\/p>\n<p>\u2014 Breitbart London (@BreitbartLondon) <a href=\"https:\/\/twitter.com\/BreitbartLondon\/status\/1493314099878502401?ref_src=twsrc%5Etfw\">February 14, 2022<\/a><\/p>\n<\/blockquote>\n<figure id=\"M-ROS-B2\" class=\"a8d\"><\/figure>\n<p>The pain is only going to get worse for British consumers. The nation\u00b4s energy regulator has announced a 54% increase in gas and electricity prices that will hit 15 million households in April, the same month that income taxes are set to rise by 1.5%.<\/p>\n<p>\u201cWe understand the pressures people are facing with the cost of living,\u00b4\u00b4 Treasury chief Rishi Sunak said in a statement. \u201cThese are global challenges, but we have listened to people\u00b4s concerns and recently stepped in to provide millions of households with up to 350 pounds to help with rising energy bills.\u00b4\u00b4<\/p>\n<p>The Bank of England said earlier this month that it expects inflation to peak at 7.25% in April. On Feb. 3, the bank increased its key interest rate to 0.5% in an effort to curb inflation.<\/p>\n<p>Capital Economics, which provides economic research to investment banks and money managers, expects the central bank to increase its key rate to 1.25% this year and 2% in 2023.<\/p>\n<p>The new inflation data \u201cwill add more pressure on the Bank of England to raise interest rates rapidly,\u201d said Paul Dales, chief U.K. economist for the firm.<\/p>\n","protected":false},"excerpt":{"rendered":"<p>LONDON (AP) \u2013 Inflation in the United Kingdom has risen at the fastest rate in almost 30 years as increased costs for energy, housing and transportation squeezed household budgets. The &#8230;<\/p>\n","protected":false},"author":1,"featured_media":2315279,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"_mo_disable_npp":"","fifu_image_url":"","fifu_image_alt":"","footnotes":""},"categories":[],"tags":[],"class_list":["post-1303466","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry"],"_links":{"self":[{"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/posts\/1303466","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/comments?post=1303466"}],"version-history":[{"count":0,"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/posts\/1303466\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/media\/2315279"}],"wp:attachment":[{"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/media?parent=1303466"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/categories?post=1303466"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/tags?post=1303466"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}