Opinion

Inflation: why it’s very unlikely to get back below 2% for years to come

Aug 26, 2022

Inflation has gotten worse in recent years in the UK. Image: Krzysztof Hepner/Unsplash

Alexander Tziamalis

Senior Lecturer in Economics, Sheffield Hallam University

Yuan Wang

Senior Lecturer in Economics, Sheffield Hallam University

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Inflation in the UK, Europe and the US from October 2021 to July 2022. Image: Trading Economics

Graph showing change in inflation in the UK between 1997-2022. Image: Trading Economics

UK benchmark interest rate 1997-2022 Inflation

Graph showing change in benchmark interest rate in the UK from 1997-2022. Image: Trading Economics/Bank of England

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Pound and euro values 2008-2022 Inflation

This chart shows the value of the euro and pound against a basket of international currencies. The pound is in orange and the euro in blue. Image: TradingView

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