According to statistics that was released on Tuesday, the unemployment rate in the United Kingdom increased even higher in the three months leading up to the end of March. This occurred as a direct result of elevated inflation.
According to a statement released by the Office of National Statistics at the end of February, the rate rose from 3.8 percent to 3.9 percent in the three months leading up to the end of the month.
Jeremy Hunt, the United Kingdom’s Finance Minister, stated in response that while it is “encouraging” that the unemployment rate has remained at a historically low level, the fact that it is difficult to recruit personnel and that costs are rising is a source of concern for many families and companies.
“Because of this, we need to remain committed to our plan to cut inflation in half and assist families with the cost of living, all while delivering on our childcare reforms and providing support to older people and disabled people who are interested in finding work.”
Because rising food prices are being compensated by declining energy costs, yearly inflation in the UK has remained stubbornly high over 10 percent.