UK experiences fastest six month rise in inflation in a decade – but policy makers should look beyond the latest figures 16 June 2021 Commenting on the latest inflation statistics published today (Wednesday) by the ONS, which show that CPI inflation increased to 2.1 per cent in May, up from just 0.3 per cent in November – the fastest six month rise in inflation since the collapse of sterling in the aftermath of the financial crisis , Jack Leslie, Senior Economist at the Resolution Foundation, said: “Inflation has risen sharply in recent months and will rise further as the impact of higher commodities prices feed through the supply chain. But UK inflationary pressures are different – and nowhere as near as large – as those causing fierce debate in the US. “Looking ahead, with the medium-term outlook for inflation in the UK still relatively benign, policy makers should look beyond today’s figures and worry far more about rising unemployment than rising inflation.”
