UK inflation forecast to hit 8% in April amid cost of living crisis

CPI rises to 5.5% in January with further increase expected as soaring energy bills squeeze households

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Britain's hard-pressed households have been warned to expect a fresh squeeze on their living standards in the coming months after the annual inflation rate climbed for a 13th month to its highest point in almost 30 years.

Economists said they expected the government's preferred measure of the yearly jump in the cost of living - the consumer prices index - to rise from 5.5% in January to almost 8% in April when household energy bills will soar by hundreds of pounds.