CWS - Could U.K. Inflation Reach Double Digits?

• Inflation continues to surge in Canada, with May’s CPI climbing 7.7% on a year-over-year basis—up from an already-high reading of 6.8% in April.
• In the UK, consumer prices rose 9.1% in May on a year-over-year basis, which marked a 0.1% increase from April’s elevated reading of 9.0%.
• The Bank of England is now projecting that the country’s inflation rate could reach as high as 11% later this year.
• The latest numbers from the UK and Canada are likely to place even more pressure on central banks to increase borrowing costs in order to bring inflation under control.

For further details see: