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This is a list of recessions (and depressions) that have affected the economy of the United Kingdom and its predecessor states. In the United Kingdom a recession is generally defined as two successive quarters of negative economic growth, as measured by the seasonally adjusted quarter-on-quarter figures for real GDP. Name Dates Duration Real GDP reduction Causes Other data Great Slump c. 1430 ...
Uk inflation history inflation hit 24% in 1975 and in 1976 the Sterling crisis occurred, followed by the Winter of Discontent [2]. The traditional measure of inflation in the UK for many years was the Retail Prices Index (RPI), which was first calculated in the early 20th century to evaluate the extent to which workers were affected by price changes during the First World War.
In February 2011, annual RPI inflation jumped to 5.1% [16] putting pressure on the Bank of England to raise interest rates despite disappointing projected GDP growth of only 1.6% in 2011. [16] The September 2011 figure of 5.6%, the highest for 20 years, was described by the Daily Telegraph as "shockingly bad". [17]
The Office for National Statistics said Wednesday that inflation, as measured by the consumer prices index, was 2.5% in the year to December, largely as a result of easing price pressures in the ...
The UK economy grew by 0.1% last year and is expected to see growth improve to 0.4% this year, although this is below the 0.7% previously predicted.
The Office for National Statistics said consumer price inflation rose by 2.6% in the year to November, up from 2.3% the previous month. ... UK inflation increase solidifies expectations interest ...
This graph depicts annual U.K. GDP growth from 1948 to 2012. UK annual balance of trade in goods since 1870 (£m) Trade in goods and services balance (U.K.) UK Trade with China (1999–2009) Although Britain achieved ultimate victory in the war, the economic costs were enormous.
However, last year the UK economy ultimately fell short of this, with 0.1% growth in GDP, according to the Office for National Statistics (ONS).