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Podcast: Beyond Currency
Episode: 17 June 2021 - Sharp increase in inflation to hit household spending
Description: "UK inflation rose to 2.1% in May, breaking through the Bank of England’s 2% target.
While this was expected, it serves to remind those who believe that the Government should extend several of its support packages that the time is approaching when the economy will need to support itself.
The year-on-year data also exposes just how weak inflation was in May of last year. The country was reeling from the first lockdown as the brakes were slammed on.
This is the first time the Government’s inflation target has been exceeded in over two years.
Economists polled by Reuters expected a rise...