U.K. Inflation Surges to 30-Year High of 7%

The video discusses the UK's inflation reaching a 30-year high, impacting the cost of living and potentially derailing economic recovery. It highlights the surprise among economists and the Bank of England's potential response, including interest rate hikes. The discussion also covers the broader effects on households and the political challenges faced by the government.

What is the significance of the inflation rate potentially hitting double digits later in the year?

What does Bloomberg Economics predict about the Bank of England's actions following the inflation data?