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UK inflation rises to 9% – the highest level in 40 years

The CPI inflation rate rose to 9% in April from 7% in March, the Bureau for National Statistics said

CPI inflation rose to 9% last month from an already high 7% in March, the highest since comparable levels in 1982.

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UK inflation hits 40-year high (Composite: Mark Hall/NationalWorld)

Data released by the Office for National Statistics (ONS) showed that much of the increase was due to the price cap on energy bills, which was raised by 54% for the average household in early April.

Grant Fitzner, chief economist at the ONS, said: “Inflation rose sharply in April, driven by sharp increases in electricity and gas prices as the higher price cap went into effect.

“Roughly three-quarters of the increase in the annual rate this month came from utility bills.

“We also released today new modeled historical estimates showing that annual CPI inflation was last higher 40 years ago.”

This article will continue to be updated with more information.

https://www.nationalworld.com/lifestyle/money/cost-of-living-crisis-uk-inflation-soars-9-highest-rate-40-years-3698305 UK inflation rises to 9% – the highest level in 40 years

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