Experts are predicting the biggest jump in the cost of living in more than four decades. Figures to be released on Wednesday are expected to show inflation soaring across the board.
Consumer Prices Index (CPI) inflation will likely reach 9.8%, according to an average of analysts’ estimates calculated by Pantheon Macroeconomics, as diesel and petrol prices rose across the country. The official figures are released by the Office for National Statistics (ONS) at 7am on Wednesday.
It would be the highest figure since February 1982, when CPI reached 10.4%, according to ONS estimates. An inflation figure usually used to determine annual rises in some train fares set to be released by the ONS hours later at 9.30am is expected to be even higher.
