Inflation hit nine per cent in April as official figures showed how much prices are increasing. The rate of Consumer Prices Index inflation increased from seven per cent in March, the Office for National Statistics has said.
It is a clear demonstration of the cost of living crisis as separate surveys also show that people are cutting their spending where they can. It means inflation is now at the highest level for 40 years.
Chancellor Rishi Sunak said “we cannot protect people completely” from global problems which contributed to inflation hitting 9% in April but we “are providing significant support where we can, and stand ready to take further action”.
