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Evening Standard
Evening Standard
Business
Michael Hunter

Get set for inflation to reach another 40-year high

Rising fuel prices have driven inflation to 40-year highs (Nicholas T Ansell/PA)

(Picture: PA Wire)

Temperatures may be set to ease by Wednesday but for shoppers, there will be no respite from the white heat of the cost of living crisis.

That morning the Office for National Statistics is set to reveal that the main measure of inflation, the Consumer Price Index (CPI) reached a new 40-year high in June. City forecasters expect a figure of 9.3% , up from 9.1% in May, as spiralling fuel, energy, food and other day-to-day prices continue to wreak havoc on family budgets.

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