Ring The Alarm: UK Entering Meltdown Mode
Last week, the Office for National Statistics released the inflation results for the British economy. Even though most analysts weren’t expecting any huge differences, the numbers (updated until February) paint a completely different picture. In February, the inflation rate increased rather sharply. On a month-on-month basis, the CPI increased by 0.7% (whereas January was a month with deflation). The current YoY inflation rate based on the CPI is 2.3%.
‘No big deal’, you might think. But in this case it is.