Britain’s inflation rate rose to the highest level in 40 years last month as Russia’s war in Ukraine fueled further increases in food and fuel prices.
The Office for National Statistics said Wednesday that consumer price inflation accelerated to 9% in the 12 months through April, from 7% the previous month. That is the highest rate since sometime in 1982, when inflation reached 11%, according to statistical modeling by the ONS.
Millions of households across Britain were hit with a 54% jump in gas and electricity bills last month after regulators boosted the energy price cap to reflect previous increases in wholesale prices.
Britain is facing a “very, very difficult economic situation,” British Foreign Secretary Liz Truss said on Wednesday.
“We are in a very, very difficult economic situation,” Truss told Sky News. “We’re facing some very, very serious global headwinds. And as you said, inflation is extremely high.”
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