Pak Sahafat – Despite the relative decrease in the inflation index last month (August) in England, statistics show that the volume of retail sales decreased more than expected during this period, and this is a sign that England is moving towards economic recession.
According to the UK National Statistics Center, the volume of retail sales fell by 1.6% in August, which is the biggest drop since December 2021 and higher than the forecasts of experts who estimated it to be around 0.5%.
The British body added that all major retail sectors, including food, non-food and fuel stores, fell for the first time since the corona restrictions were lifted.
Although inflation eased 0.2 percent last month, households are still struggling with the biggest rise in prices since the early 1980s, largely driven by rising energy prices, data showed.
According to the findings of the British National Statistics Center, the people of this country have reduced their expenses due to the increase in prices; however, they have resorted to using credit cards and bank facilities to cover their living expenses.
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Research by the English research institute CANTAR shows that the annual grocery bill has increased from £4,610 to £5,181. According to this report, milk and butter are among the items that have been affected by the biggest price increase and in the four weeks ending on September 4th, compared to the previous year, their prices increased by 31% and 25%, respectively.
Research by the English research institute CANTAR shows that the annual grocery bill has increased from £4,610 to £5,181. According to this report, milk and butter are among the items that have been affected by the biggest price increase and in the four weeks ending on September 4th, compared to the previous year, their prices increased by 31% and 25%, respectively.
The unprecedented jump in the inflation index and the unbridled increase in the cost of living in England have put the island in the worst economic conditions of the last half century. The fact that there is no prospect of improvement in the situation and the official authorities are warning about the worsening of the situation has terrified the people of the country.
Before the war in Ukraine, it was predicted that the inflation rate would be in the range of 2% despite the pressures caused by Brexit and the Corona crisis. But according to the National Statistics Center of England, the inflation index has reached 9.9% and it is expected to reach 22% by the beginning of next year.
The Central Bank of England has warned of an economic recession in this country and has predicted a dark outlook for the economic situation in the coming months.