CPI annual rate, all items 2015=100
1 July 2022 10.1%
10%
8
6
6
4
1
2
3
2
5
4
0
-2
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 begins
6. Ukraine
War accelerates a rise that began as global economies emerged from Covid-19 downturn
CPI annual rate, all items 2015=100
1 July 2022 10.1%
10%
8
Ukraine
War accelerates a rise that began as global economies emerged from Covid-19 downturn
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
6
4
2
0
Interest rates
Gordon Brown hands control of setting rates to Bank of England
2008
financial crisis
Covid-19
Pandemic begins
-2
1985
1990
1995
2000
2005
2010
2015
2020