Business is booming.

UK inflation rate accelerates to 30-year high

UK inflation rose to a fresh 30-year high last month, according to figures that will pile pressure on chancellor Rishi Sunak to announce fresh support for households when he delivers his Spring Statement on Wednesday.

The Office for National Statistics said the consumer price index rose at an annual rate of 6.2 per cent in February, up from 5.5 per cent in January and the highest rate since 1992. The monthly rise of 0.8 per cent between January and February was the fastest since 2009. Economists in a Reuters poll had expected 5.9 per cent for the February figure.

The surge in inflation in recent months has been driven by soaring global prices for energy, petrol, food and durable goods: the ONS said the biggest factors driving the latest increase in the monthly rate came from transport, furniture and household goods.

Source link

Comments are closed, but trackbacks and pingbacks are open.