The U.K.’s annual rate of inflation reached a 40-year high last month, the highest carried by an industrialized nation since the inflationary upswing began last year.
What Happened: The Wall Street Journal analyzed data from the U.K. Office for National Statistics, which reported April’s consumer prices were up 7% from March and 9% from one year earlier. As a result, the nation is experiencing its highest inflation rate since March 1982 – and it is also outpacing the 8.5% annual rate of inflation record set by the U.S. in March.
