AI Driven Inflation: A New Wave of "Chipflation" Hits the UK Economy The Bank of England has been warning about inflationary pressures for months, and recent numbers confirm a sharp rise in household energy bills is pushing up prices.
However, another factor is at play: the cost of memory chips used in electronics is skyrocketing due to global supply chain disruptions.
The term "chipflation" was coined by the British Retail Consortium to describe this phenomenon, which is driving up electronics prices.