Rishi Sunak’s Chill Bowling with Inflation
Britain’s Chancellor, Rishi Sunak, is feeling the heat—literally—after the latest spring statement hit a 6.2% mark for the annual consumer price index (CPI). This is the steepest climb in three decades, and the cause? Energy bills and petrol prices are doing a zoom‑dance on the price charts.
What the Numbers Say
- February rates jumped from 5.5% in January. That’s the highest level we’ve seen in 30 years.
- Official predictions squeezed into 5.9%. The ONS just realised they were being overly optimistic.
- Energy and fuel left the CPI scoreboard with a “whoosh” of inflation.
Let’s Break Down the Numbers
Grant Fitzner, key economist at the ONS, explains why the economy’s “inflation thermometer” ran hot:
“Inflation climbed a steep slope in February, hitting prices across the board—from food to toys. We see it across a wide range of goods and services, and also products as quirky as plastic dinosaurs.”
- Clothing & footwear finally resumed their February price surge after a quiet slowdown last year—think resumes, but for socks.
- Furniture & flooring reversed their New Year sales slump, making buyers a bit more jaded.
- Manufactured goods crossing the UK border have seen prices creep up, now at a 14‑year high.
What It Means for Your Wallet
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