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Cost of Living Crisis: Inflation hits 30 year high as economists warn worse is to come
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Inflation hit a fresh 30 year high in January, putting more pressure on family finances and on the Bank of England.
Official figures show the Consumer Price Index was at 5.5%, slightly higher than City forecasts of 5.4%. It was last higher in March 1992, when it stood at 7.1%.
Worse is to come, warn economists. The Bank of England expects inflation to peak above 7% in the coming months as a big rise in the energy price cap kicks in.
Official figures show the Consumer Price Index was at 5.5%, slightly higher than City forecasts of 5.4%. It was last higher in March 1992, when it stood at 7.1%.
Worse is to come, warn economists. The Bank of England expects inflation to peak above 7% in the coming months as a big rise in the energy price cap kicks in.
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