16%
Bank of England base rate
14
Covid-19
12
Black
Wednesday
2008
financial
crisis
Brexit
vote
10
8
6
4
2
Consumer
prices index
inflation annual rate
0
-2
1990
2000
2010
2020
16%
Covid-19 causes the worst economic crisis since the Great Depression
Bank of England base rate
14
Black Wednesday: the UK government is forced to withdraw the pound from the European exchange rate mechanism
12
2008 financial crisis
Inflation becomes erratic
Brexit vote triggers a sharp fall in the pound, leading inflation to rise as imports become more expensive
10
8
6
4
Consumer
prices index
inflation annual rate
2
0
-2
1990
2000
2010
2020