• Salah Abdullah Al-attar - Editor-in-Chief

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UK inflation rate rises to 3.5 percent..

The data, published in a report by the UK's Office for National Statistics (ONS), attributed this sudden and unexpected increase to "significant rises in household service prices, food costs, and transportation fares - particularly airfares."

The report detailed that:

  • Household services (including electricity and gas bills) increased from 5.1% to 7% between March and April

  • Food prices rose from 3% to 3.4%

  • Transportation costs (including air travel) climbed from 1.2% to 3.3%

Reacting to the figures, UK Treasury Minister Rachel Reeves expressed "disappointment" at this unexpected inflation surge, stressing that living standards remain the primary concern for British households. In a press statement, Reeves emphasized that the government is implementing all necessary measures to alleviate financial pressures on families facing higher essential goods and service prices.

Notably, the Bank of England maintains that 2% represents the optimal inflation rate for sustaining economic growth without eroding workers' incomes. However, in its report two months ago, the central bank projected inflation could reach 3.7% by year-end.