The Bank of England said on May 18 that the food shortage and inflation crisis are real problems over the coming months, likely to be an apocalyptic disaster.
Andrew Bailey, the governor of the British central bank, said that he is “helpless” to stop food prices from rising and food from disappearing off the shelves in the coming weeks and months. Prices are now rising at the fastest rate in 30 years. The Russia-Ukraine war has also stopped crops from being shipped out from Ukraine. Thus Bailey discussed that this was a “major worry” for all developing countries including the United Kingdom.
The current price has already gone over 7 percent inflation. The government is powerless to stop the rapid deterioration of inflation. Bailey said that this is a serious disaster.
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