UK Economy Faces Fastest Inflation Growth in 4 Years

British people could possibly face a period of living squeeze as the UK consumer prices are now recording its fastest growth ever within a 4-year period, in addition to the onslaught of the upcoming general elections as well as the Brexit negotiations. UK’s per annum inflation rate rose by 2.7% last month as compared to 2.3% last March, which is the fastest rate of inflation for the country since 2013. UK inflation rates started increasing immediately after the Brexit referendum, wherein the sterling pound exhibited a depreciation immediately after the referendum. This recent surge in UK inflation rates mirrors an international trend of sudden inflation growth after a long period of muted price action prompted several central banks to resort to more radical stimulus policies.