CPI annual rate
9%
1 April 2022
8%
6
4
1
2
5
3
2
4
0
1990
2000
2010
2020
1. Black Wednesday – UK government forced to take sterling out of European exchange rate mechanism.
2. Interest rates – Gordon Brown hands control of setting rates to Bank of England.
3. 2008 financial crisis.
4. Brexit vote – Result prompts sharp fall in sterling, leading to rise in inflation as imports become more expensive.
5. Covid-19 – Pandemic causes worst economic downturn since Great Depression.
CPI annual rate
9%
1 April 2022
8%
Black Wednesday
UK government forced to take sterling out of European exchange rate mechanism
Brexit vote
Result prompts sharp fall in sterling, leading to rise in inflation as imports become more expensive
Covid-19
Pandemic causes worst economic downturn since Great Depression
6
4
2
Interest rates
Gordon Brown hands control of setting rates to Bank of England
2008
financial crisis
0
1985
1990
1995
2000
2005
2010
2015
2020