Inflation Reaches 9.4% in Britain

    Photo: PA [via The Guardian]

    The Facts

    • Consumer prices in Britain rose 9.4% year-on-year in June, with households facing rapid cost increases in key areas including food and motor fuels, which were up 9.1% from the month before.

    • Energy bills have continued to soar since Russia invaded Ukraine, while pay fell 2.8% from March through May in comparison to the previous year.


    The Spin

    Left narrative

    This economic crisis is having dire effects on the British public. The poorest are suffering most while the governing Tories are only offering chaos, distraction, and unfunded "fantasy economics." The UK needs a Labour government.

    Right narrative

    The current state of the economy is the cascading effect of tax raises and wild public spending. Sunak will find his leadership bid marred by his record as Chancellor, which saw him rise corporation tax at the cost of British economic competitiveness.

    Nerd narrative

    There is a 50% chance the UK's annual inflation rate will be at least 8.37% in the following years, according to the Metaculus prediction community.


    Political split

    LEFT

    RIGHT

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