Journal Press India^®

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In November 2021, a major section of the UK population reported an increase in cost of living. An upsurge in the price of food shopping, price of fuel, and price of gas and electric bills were the major reasons as per the UK households. A drastic rise in household cost and energy bills as compared to a year ago were reported. Household bills for almost every section of the UK got affected but deprived population had to bear the worst impact of rising household bills. Subsequently, the government of the UK took number of corrective measures but the penetration impact of the measures taken seem to take time to control the rising inflation in UK (likely by the end of 2028). The present study was an attempt to briefly state the reasons that contributed to UK cost of living crisis, the measures taken by the government and financial institutions of the UK, and the likely changes in the CPI inflation for UK in the years to come.

Keywords

Inflation, UK cost of living crisis, CP, Consumer Price index

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