High inflation in UK forces older people back to work
High inflation in UK forces ...
Subscribe to Newsletter

High inflation in UK forces older people back to work

25 July 2022
1 min.
High inflation in UK forces older people back to work

Inflation in the UK

The rapid rise in the cost of living in the UK is forcing UK pensioners back to work. The Guardian, a British newspaper, said this on Monday.

According to estimates of the National Statistics Service of Great Britain, which leads the edition, for the last year the number of working subjects of the United Kingdom over the age of 50 years increased by 116 thousand people, exceeding the level before the pandemic coronavirus.

However, an analysis of the data shows that the increase in the number of working pensioners is primarily due to those who were previously retired returning to the labour market.

As reasons for this trend, experts interviewed by the newspaper highlight the "monthly decline in the purchasing power of the population", which "makes a growing number of pensioners feel poorer than ever", and the "volatility in financial markets", which "leads to significant concerns about sources of income" after a potential exit from work.

It is also worth noting that the National Statistics Service previously reported that inflation in the UK rose to an annualised rate of 9.4% at the end of June, the highest rate in 40 years.

According to the Bank of England's latest estimates, the country's price growth rate could exceed 11% in the autumn. In March, the Centre for Economics and Business Research in London released a report which warned that the UK risks the biggest fall in living standards since the 1950s.

Source foto:
Rating companies
18 Mention
12 Mention
Daily Mail
9 Mention
Labour Party
6 Mention
X (Twitter)
6 Mention
Channel 4
6 Mention
The Sun
6 Mention


News GlobalEng.biz -this is the latest and most up-to-date information about the resonant events that have occurred in the region. The task of the resource's news feed is to convey to readers information about important events in business, politics, economics, healthcare, culture and other spheres of life in England with maximum accuracy and objectivity.
News GlobalEng.biz - this is coverage of the economic processes taking place in England, the latest news of public life, incidents and an overview of political events. English news is information about the activities of small and medium-sized businesses, the work of housing and communal services, the implementation of significant projects. The site's journalists describe not only the life of the region, but also talk about the current state of the English economy. Everything you need to know about innovations in the field of industry and agriculture, economy and government is collected in the "News" section on GlobalEng.biz.
News of England promptly informs the reader, shows the real picture and opens up topical topics. Communication with government structures and business gives us the opportunity to provide our readers with reliable, information-rich material.
The main page of the portal contains the key news of England!
Alena Potapova

Development Director
Died this year
Born this year