Inflation in Britain reached 1% on an annual basis in July. Rising prices of clothing, furniture and household items pushed the average price level upwards. It is reported by the United Kingdom National Statistical Office.
In June, inflation was still 0.6% on an annual basis. Experts generally took into account that this level would be maintained in July. In May, inflation was 0.5 percent, which was the least since 2016.
It was also announced that the British were spending much more money in July, especially as more was done online.
Spending in cafes and restaurants on an annual basis is 18 percent. The researchers look ahead to developments in the course of the year. This is because there are many uncertainties and the crisis will soon have potential impact on workplaces, especially if security aid programmes are cancelled.