First County Recommends Machinery and Vehicle Purchases are Brought Forward as Inflation and Interest Rates are on the ↑…!

BBC News Services
UK inflation rate more than doubles in April

‘’Inflation leaps to 2.1pc as economy reopens’’
The Consumer Prices Index rose to the highest level for almost two years in May
By Russell Lynch, ECONOMICS EDITOR
16 June 2021 • 7:33am

British households were hit with a sharp rise in inflation in May as the easing of lockdown restrictions sparked a surge in spending at shops, restaurants and hairdressers.

The Consumer Prices Index (CPI) measure of inflation rose to 2.1pc from 1.5pc in April, the highest rate since July 2019, the Office for National Statistics (ONS) said.

“Petrol prices hit 127.2p a litre last month, the ONS said, almost 20pc higher than a year earlier…… “

The consumer price inflation rate in the UK climbed to 2.1 percent year-on-year in May 2021, from 1.5 percent in the previous month and comfortably above market expectations of 1.8 percent. It was the highest rate since July 2019, reflecting the ongoing economic recovery and re-opening efforts, as well as the low base year – Trading Economics, 15th June 2021

The UK is caught in a price rise perfect storm - Sky News, 16th June 2021

The return of the inflation spectre

Growing worries about the return of a long-forgotten bugbear highlight increasing risks for savers

 Eurozone inflation up sharply as economies reopen – BBC News, June 1st 2021 

The Fed moves up its timeline for rate hikes as inflation rises

The Federal Reserve considerably raised its expectations for inflation this year and brought forward the time frame on when it will next raise interest rates – CNBC, 16th June 2021