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UK inflation jumps severely within increase in energy, products values
(MENAFN) Fitch Ratings showed that British consumer price index (CPI) will likely increase severely during the second half of this year because of rising worldwide energy and products values.
CPI inflation will increase to 4.3 percent by the end of this year, rising from its last prediction of 3.4 percent in September, according to the worldwide rating company.
Consumer inflation is expected to reach above 5 percent in April 2022, and the energy component of CPI inflation is likely to jump by almost 1 percentage point during the next months.
It also said "Retail gas and electricity tariffs are set to rise by 12 percent in October and we assume they rise by a further 20 percent in April 2022."
CPI inflation will increase to 4.3 percent by the end of this year, rising from its last prediction of 3.4 percent in September, according to the worldwide rating company.
Consumer inflation is expected to reach above 5 percent in April 2022, and the energy component of CPI inflation is likely to jump by almost 1 percentage point during the next months.
It also said "Retail gas and electricity tariffs are set to rise by 12 percent in October and we assume they rise by a further 20 percent in April 2022."
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