Inflation rises faster than expected as food and fuel prices jump

The figure had been expected to hit 6.7% in the 12 months to March, but it actually rose to 7%.

13 April 2022

Fuel and food prices are rising so fast that it helped send UK inflation to another 30-year high in March, even before household energy bills spiked, according to official figures.

The Office for National Statistics (ONS) said Consumer Prices Index (CPI) inflation rose to 7% in the year to March, up from 6.2% in February.

It was once more the highest point since March 1992, when inflation stood at 7.1%.

The rise was higher than the 6.7% that analysts had expected and was driven by fuel, restaurant and food prices.

But the increase does not even take into account the average 54% increase in energy bills that was applied to around 22 million households two weeks ago.

This will not appear in inflation figures until next month, when April’s data is expected to show another jump in inflation and demonstrate the increased squeeze on ordinary people.

The Bank of England has predicted that inflation could peak at around 8% in April.

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