Inflation hits 7% in March as Britain’s cost of living soars
by Richard Partington Economics correspondent from on (#5Y4AD)
Latest rise in CPI measure is highest in three decades, coming a month after it hit 6.2%
UK households have been warned to brace for the sharpest annual rise in the cost of living since the early 1980s after a bigger-than-expected jump in the official inflation rate to 7% amid record increases in petrol prices.
Economists said they expected the government's preferred measure for the annual increase in living costs - the consumer prices index (CPI) - was on course to breach 9% this month amid a record-breaking jump in energy bills and soaring cost of the weekly shop.
Continue reading...