Insight - UK inflation nears 30-year high, but how fast will it fall back?

Challenging times: A customer shops at a Tesco supermarket in east London. Britain’s annual inflation rocketed last November to 5.1%, more than double the Bank of England’s 2% target. — AFP

BRITISH consumer price inflation looks set to hit a 30-year high of 6% or more in April, but the big question for the Bank of England (BoE) and the wider public is how quickly it will then fall back.

The BoE last month became the world’s first major central bank to raise interest rates since the coronavirus pandemic hammered the global economy.