‘Pretty significant’ jump in oil prices overnight prompts inflation fears | Englishheadline


There are fears oil prices are adding to inflationary pressures after jumping overnight.

Englishheadline Business Reporter Ed Boyd said the jump was “pretty significant” as oil prices are now at their highest level since April.

A large group of countries cutting back on oil production coupled with an increase in demand has led to price increase.

“We obviously need petrol prices to come down to help reduce inflationary pressures,” Mr Boyd said.

The monthly inflation reading will provide further understanding as to how much of an impact the high prices will have on households and companies.

Click to comment

Leave a Reply

Your email address will not be published. Required fields are marked *

Most Popular

To Top
%d bloggers like this: