The year-on-year inflation of United Kingdom increased 9.1% in May. This is the highest rate in 40 years amid the country’s cost-of-living crisis. From the Office for National Statistics (ONS) reported that this is the highest 12-month inflation rate since January 1997.

According to the agency itself, the Consumer Price Index (CPI) it would have last been highest around 1982, where estimates range from almost 11% in January to about 6.5% in December.

the war of Russia in Ukraine restricted supplies of wheat and corn from two of the world’s largest exporters. At the same time, the invaded country is also a major producer of sunflower oil, driving up the costs of alternatives as well.

On the other hand, in monthly terms, consumer prices rose 0.7% in May. However the Bank of England (BoE) warned that inflation was on track to hit 11% by October this year, amid rising gas and electricity prices.

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