Inflation Is Giving U.K. Chancellor a Fiscal Headache: Chart

Rising prices are not only hurting British consumers, they’re making it harder for Chancellor of the Exchequer Philip Hammond to curb the budget deficit. The mounting cost of servicing government bonds that are linked to the inflation rate drove a 23 percent increase in government interest payments in the first four months of the fiscal year, the most since 2010, figures Tuesday showed. Linkers account for around a quarter of the 1.6 trillion pounds ($2 trillion) of gilts outstanding.

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