Birmingham news Cost of living check as UK inflation compared with other countries around world PremierLeague-News.Com
PremierLeague-News.Com - UK inflation surged to 9.1 per cent in May and forecasters warn it could top 11 per cent in the months ahead
PremierLeague-News.Com - Breaking Sport Transfer News ! The rocketing cost of living and stagnant wages have put millions of people in the UK under serious financial pressure. Official figures released this week indicated a sharp increase in inflation in May. According to data from the Office for National Statistics, consumer price inflation (CPI) rose to 9.1 per cent in May; this is the highest level recorded in the UK since March 1982. Forecasters expect it to increase further in the months ahead, surpassing 11 per cent. The increase in inflation was driven by surging fuel and energy prices, as well as food prices. But how does the recent rise in UK inflation compare to the situation in other countries? READ MORE: DWP hardship payment can help cover living costs - how to apply and what you get Spain Figures from Spain’s National Statistics Institute (INE) revealed in May that inflation had risen to 8.7 per cent. This was up from 8.3 per cent the previous month. France France’s central bank estimated this week that inflation would average 5.6 per cent this year. It expects the rate of inflation to ease to 3.4 per cent in 2023, before falling below two per cent in 2024. Germany In May, German inflation rose to 8.7 per cent year-on-year.
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. Belgium In Belgium, inflation rose to nine per cent in June. On June 20, around 80,000 people took to the streets of Brussels to protest against the rising cost of living. Italy Italy’s National Statistical Institute (Istat) recently reported that inflation had increased to 6.9 per cent in May. This is the country’s highest rate of inflation for 36 years. United States According to the Bureau of Labor Statistics, consumer price inflation in the US reached 8.6 per cent in May. The increase was primarily driven by rising fuel, food and housing costs. Australia In Australia, the inflation rate currently stands at 5.1 per cent. However, it is expected to accelerate in the coming months. China May saw Chinese CPI rise by 2.1 per cent from a year earlier. However, China measures CPI differently to economies such as the US, putting more emphasis on clothing and food prices and less on housing and transport, according to the South China Morning Post. Get all the latest money-saving news in our daily newsletters delivered straight to your inbox READ NEXT: Cost of living boost as National Insurance change in July will give you an extra £330 State Pension to go up 10% as Treasury confirms 'significant' inflation-based rise Final date for £150 council tax rebate confirmed as many yet to receive payment DWP cost of living discounts worth thousands going unclaimed by 850k people £1,000 cost of living boost for everyone who isn't on DWP or HMRC benefits
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