UK Inflation hits 9.1%, 11% expected in October, 2022

According sources and expert, UK’s economy is shrinking hitting 9.1% inflationary rate in the last 40 years. The Bank of England predicts it may increase to 11% in October,2022.

This situation may led to recession if not dealt with as soon as possible with increasing rate of mortgage. With this increased inflationary rate food prices have shot up worsening living expenses. Locals say the situation may trigger workers union going on demonstrations or strikes and demanding high wages to meet up with rising living costs.