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Daily Mirror
Daily Mirror
Business
Emma Munbodh

Inflation soars to highest in 30 years as food and clothing prices rocket

The cost of living rose by 5.4% in the 12 months to December, its fastest pace for 30 years, official figures show.

Supermarket prices and clothing contributed heavily to the rise, while high-ticket imported goods such as furniture also triggered increases following a supply chain crisis.

The Consumer Prices Index (CPI) inflation jumped from 5.1% in November to 5.4% in December - the highest since March 1992, when it stood at 7.1%.

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