Has Rishi Sunak failed? Uncontrollable inflation rate crossed 10% in Britain, the situation became serious

Rishi Sunak - India TV Paisa
Photo: File Rishi Sunak

Britain had made Rishi Sunak of Indian origin sit on the throne of Prime Minister with great hopes. But even after several months of assuming power, Sunak’s efforts do not seem to be paying off. Inflation has become uncontrollable in Britain. According to the latest report, for the first time in four months in Britain, the rate of inflation has increased in February. Analysts are also surprised by this wild inflation. In the midst of the ever-thinning condition, the increase in interest rates in the Central Bank meeting to be held on Thursday is believed to be certain.

The National Statistics Office reported on Wednesday that the consumer price index rose to 10.4 percent in February from 10.1 percent in the previous month. Inflation remains more than five times the Bank of England’s target of 2 percent. However, economists expect a sharp drop in prices by the end of the year.

The bank has increased rates ten times in a row since December 2021, which has now reached four per cent. This has also increased the pressure on the Bank of England to increase interest rates. The bank can take a decision in this regard in the meeting to be held on Thursday.

Super markets are getting empty

Last month many shocking pictures came out from Britain. The Ukraine war and Brexit have shaken the UK economy. The arrival of goods in Britain has decreased sharply. Due to which there has been a shortage of essential goods. There, empty counters of fruits and vegetables are being seen at the super stores.

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