The UK consumer price index stood at 6.2% in February, compared to 5.5% the previous month, which is the highest rate since 1992, the Office for National Statistics (ONS) said on Wednesday. (23.03.2022).
According to Grant Fitzner, the agency’s chief economist, “inflation rose sharply in February as prices rose for a wide range of goods and services in products as diverse as food, toys and games.”
“Clothes and footwear experienced a return to the traditional February price increases after falls last year when many shops were closed,” it said in a statement.
“The price of goods leaving British factories has also risen substantially and is now at its highest rate in 14 years,” Fitzner noted.
The new rate of inflation is known on the same day that the British Chancellor of the Exchequer, Rishi Sunak, is expected to present his financial plan for the United Kingdom with which he hopes to face the rising cost of living and at the same time eliminate part of the deficit contracted throughout the coronavirus pandemic.