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UK inflation and interest rates high - how do other economies compare?
Inflation is still higher in the UK than in many other rich nations so interest rates may yet stay higher for longer. So how is the UK fairing in other parts of our economic wellbeing? Include growth, jobs and taxes and it's a mixed picture. Inflation For all the talk of lower inflation, it still means prices are a painful 7.9% higher in the UK than a year ago. In the EU, that rate is 5.5%, it's even lower in the US at 3%. Britain experienced the worst of both sources of price shocks impacting rich countries - last year's spike in energy and food costs prompted by the war in Ukraine, and a post-pandemic shortage of ... (full story)