During the first quarter of 2022, the United Kingdom's GDP decelerated its recovery with respect to the previous quarter, registering a year-over-year growth rate of 9.86%. Inflation increased at a year-on-year growth rate of 6.23%. The labour market continued to recover from the economic effects of the Covid-19 pandemic, resulting in a decrease in the unemployment rate and an acceleration in employment. In addition, the pound sterling slightly depreciated against the dollar, recording an average exchange rate of 1.34 $/£ during the first quarter.

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