Video game accused of fueling UK inflation secures record sales for Nintendo

Strong demand for the latest installment in the Zelda series has helped lift UK inflation to its highest level in 31 years. Photo: Ed JONES/AFP < p>The release of Legend of Zelda pushed Nintendo's profits to an all-time high after the video game was accused of fueling inflation in the UK.

The Japanese game maker behind the Nintendo Switch console has announced its latest game, Zelda, has sold over 18 million copies since its release in May, generating a profit of $1.3 billion.

Sales growth in last month was blamed for boosting UK inflation figures after economists pointed to the release of the game Zelda Tears of the Kingdom pushing up core inflation.

HSBC economists said the game may have contributed to the 0.06 increase percentage point after core inflation jumped to 7.2% in June, its highest level in 31 years. years.

Chris Hare, senior economist at the bank, said: «Perhaps the rise in PC game prices could have been driven by the release on May 12 of the rather aptly titled Legend of Zelda: Tears of the Kingdom.

The latest installment of the Zelda franchise helped boost sales of the Nintendo Switch console. Photo: Nintendo

The release of the Nintendo Switch handheld game console in 2017 was an unexpected success for the Japanese company, boosting its sales.

Nearly 130 million units of the console have been sold, according to Nintendo sold data Thursday.

Total sales were up to $3.2 billion, up 50% from last year. The latest Zelda game has sparked a flurry of fans buying new consoles.

Sold 3.9 million Switch consoles, up 13.9% from the previous year despite being six years old.

In the Zelda series, which first released in 1986, players control a young hero named Link as he travels through a fantasy world to rescue a princess named Zelda.

Nintendo also controls a number of popular game franchises, including Super Mario and Animal Crossing.

p>

Core inflation levels remain consistently high amid efforts by the Bank of England to contain price increases through higher interest rates.

Inflation is projected to decrease throughout 2023.

Nintendo said it expects its annual sales to reach $10 billion, down 9.5% from than the previous year. .