British Pound Hits 10% Inflation Increase The Highest Amount Since 1982

Inflation is set to hit the biggest rise since 1982, as the Bank of England announced inflation for this year rose by 10.25%.

Governor of the Bank of England Andrew Bailey's prediction of worsening energy bills and gas prices has in his own words: “Sadly came true”.

Disposable income levels have fallen 1.75% between October 2021 and April this year, the fastest drop in disposable income since 2008.

Bailey's new predictions are grim at best, saying that the British economy will flat-line in 2 years with thousands of vulnerable people loosing their jobs.

Bailey says there're two reasons why this catastrophe occurred:

The first being the cost of living crisis that has caused millions of Britons, mainly families and the elderly, to have to divert disposable income, life savings, and other unnecessary needs like streaming subscriptions in order to keep the heating on and children fed.

The government cannot protect all of us from this but can help mediate it via stimulus payments and wage rises for public and private sector jobs.

The second reason is the war in Ukraine, many lucrative trade deals with both Ukraine and Russia were forced to be scrapped and cancelled after Russia invaded it's neighbor in late February, most impotently the trade of oil and gas.

Since then petrol prices have soared by as much as 40%, leaving many motorists angry.

Not to mention climate activists from Green Peace, Extinction Rebellion, and Just Stop Oil making the problem worse by opposing domestic fossil fuel efforts, sabotaging oil terminals and petrol pumps, gluing themselves onto intersections and oil tankers, and blocking roads with human chains are some of the actions these climate hooligans have done to make our lives more miserable.

The UK has started importing more oil and gas from the Middle East, United States, and Venezuela to offset the Russian Deficit, making oil and petrol prices rise more but for a short time.

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