Rising energy prices have pushed the UK’s inflation rate to the highest level in four decades, adding to the financial pressure on millions of British households.
The Consumer Price Index (CPI) inflation rose to 9 percent in the 12 months to April, up from an already high 7 percent in March, the Office for National Statistics (ONS) said on Wednesday.
On a monthly basis, CPI rose by 2.5 percent in April 2022, compared with a rise of 0.6 percent in April 2021.
It was the fastest measured rate since records began in 1989, and the ONS estimates it was the highest since 1982.
Grant Fitzner, chief economist at the ONS, said: “Inflation rose steeply in April, driven by the sharp climb in electricity and gas prices as the higher price cap came into effect. Around three-quarters of the increase in the annual rate this month came from utility bills.”…