Inflation eases in UK but public outcry over falling inflation

In India, if someone talks about inflation on social media, the gang will surely break up and they will be branded as traitors. In the UK the opposite is the scene. In the UK the Chancellor of the Exchequer is the Chancellor of the Exchequer. Jeremy Hunt is currently Chancellor. Hunt admitted that it is true that inflation has come down, but underneath the inflation figure is the reality that commodity prices have not come down and the fight against inflation is still a long way off. Food prices are alarmingly high.

In India, inflation does not decrease, but if the rate of inflation decreases slightly, the government jumps to its feet.

Even when people are optimistic that the inflation will come down, the United Kingdom (UK) is witnessing the decline of the Ganges. Inflation in the UK fell sharply in April despite public outrage. The UK's Rishi Sunak government has acknowledged that the public outcry is justified and, instead of making any false claims, has openly admitted that the fight against inflation still has a long way to go.

People in the UK have been suffering from inflation for a long time. For eight consecutive months, i.e. from August last year, the inflation rate was in double digits i.e. more than ten percent. The newly announced inflation for the month of April is 8.7 percent. This means that the inflation rate has come in single digits for the first time in eight months, but the crunch has started.

The reason for this upheaval is that the Bank of England had predicted that the inflation rate would drop to 8.2 in April, but instead it came to 8.7. The Bank of England is being blamed for making such a wrong forecast, but the accusations that Rishi Sunak's government has also failed to control inflation have begun.

In the last one year, the prices of almost all commodities have increased by more than 20 percent. The Sunak government assured that the prices will start decreasing drastically from the month of April, but nothing has happened. Inflation has come down to 1.4 percent compared to 10.1 percent in March. This reduction is said to be huge but people are dissatisfied because the prices of goods are not decreasing. Due to this, people are broken in social media. People are saying, we don't want the illusion of figures created by a fall in the inflation rate, but a genuine fall in prices.

England has a supermarket culture so people buy most things from supermarkets. The Sunak government has also launched an investigation against supermarkets following allegations that supermarket owners are not reducing prices to make profits and the government is covering them up. People are also complaining that this investigation is being done to fool people.

In India, if someone talks about inflation on social media, a gang will be formed on him and he will be portrayed as a traitor. In the UK the opposite is the scene.

In the UK the Chancellor of the Exchequer is the Chancellor of the Exchequer. Jeremy Hunt is currently Chancellor. Hunt admitted that it is true that inflation has come down, but underneath the inflation figure is the reality that commodity prices have not come down and the fight against inflation is still a long way off. Food prices are alarmingly high.

Hunt also acknowledged that the main reason why inflation has come down is the drop in energy prices. After Russia invaded Ukraine last year, both electricity and fuel prices directly quadrupled as Russia was the UK's biggest supplier of oil and gas. Energy prices have soared in the UK as oil and gas flows have stopped due to the embargo on Russia. Now that the UK has adjusted itself over the past quarter of a year, energy prices have fallen significantly, so the rate of inflation has come down.

Hunt also acknowledged that a fall in inflation does not necessarily mean a fall in inflation but a slowdown in inflation.

Hunt's openness is commendable but people are not satisfied because people's problems will not be reduced by openness and pocket-cutting will not stop. People are angry as they are having to cut back on their necessities due to rising prices.

People's outrage is also justified as the prices of essentials like milk, sugar, cheddar cheese, eggs, potatoes, sliced ​​bread in the UK have gone up wildly in the last one year. There has been a massive increase of up to 40 percent in these items. Britain has many times higher per capita income than India. India's per capita income is US$ 2601 (approximately Rs. 2.15 lakh) while UK's per capita income is US$ 46,371 (approximately Rs. 38.37 lakh). The average monthly income per person in India is around 18 thousand rupees. The average monthly income per person in Britain is around Rs 3.20 lakh. This means that the average income of a UK citizen is 15 times that of an Indian.

On the other hand, the prices of most items in the UK are double the prices in India in terms of Indian rupees. In these circumstances, the prices in UK are not very high as compared to India, but in Britain, such high prices have been seen for the first time in 45 years, so people are outraged.

In the UK, milk at Rs 140 a litre, sugar at Rs 113 a kg

Two pints (about 950 ml, a little less than 1 litre) of milk currently costs around £1.30 (Rs 140) in the UK. Milk in India costs around Rs 70 a liter while in the UK it costs twice as much. Milk prices have increased by 33 percent in the last year. A 400 gram packet of cheddar cheese costs 3.80 pounds (about Rs. 390). Its price has increased by 39 percent in a year. In the UK, sugar costs 1.10 pounds (about Rs. 113) per kg. The price of sugar has increased by 47 percent in a year. The price of 12 eggs is 3.30 pounds (about Rs. 340). While an egg costs 7-8 rupees in India, the price of an egg in the UK is around 30 rupees. The price of eggs has also increased by 33 percent during the year. An 800 gram packet of bread costs 1.40 pounds (about Rs. 145). Bread has also become expensive by 28 percent in one year.

Potato prices are also at 0.75 pounds per kilo. In Indian rupees it became about 75 rupees. Potato prices have increased by 28 percent in a year. Chicken is sold at 3.80 pounds (about Rs. 390) per kg. Chicken has also become expensive by 23 percent.

Inflationary control in Germany-France, British ego hurt

The issue of rising prices in the UK is also linked to the ego of the British. Currently, all the countries in Europe have inflation problem, but except UK, Italy and Austria are the only two countries where the inflation rate is more than 8 percent. In all other countries, inflation is below 8 percent and commodity prices are under control.

Most of all, the English people are told that the prices of goods in France and Germany are under control but not in the UK. Germany, France and England have been competing for years to be the best in Europe. At present, inflation in Germany is 7.6 percent while in France it is 6.9 percent. Because of this, both France and Germany are proving to be superior to the UK, and the British are also worried.

To add salt to the wounds for the British, Britain is in a bad position after leaving the European Union. Both Germany and France are still in the European Union. People of both the countries are taunting on social media that if they had stayed with us, such a blow of inflation would not have happened. This is also why the British are counted.