UK core inflation hits 28-Year high, boosting Bitcoin adoption as safe haven

The United Kingdom’s core inflation reached 6.8% in April, its highest level since 1992, as CryptoSlate reported in a recent insight. This surge in inflation has occurred alongside a backdrop of declining interest rates for over 40 years, which has inflated asset bubbles across the board.

Core inflation represents the fluctuation in the cost of goods and services, excluding items within the food and energy sectors. It remains more persistent than overall headline inflation, as the U.K. experienced its most constricted labor market in more than 25 years, with an unemployment rate under 4%.