Chancellor Rishi Sunak has released a statement as the cost of living crisis worsens. Data from the Office for National Statistics released today (Wednesday 18 May) show that inflation hit 9% in the year to April, as measured by the consumer prices index (CPI).
The increase, which has surged from 7% since March, is the highest one-year increase in consumer prices in more than 30 years. It will mean that the cost of living rises even further and people's money won't travel as far.
Mr Sunak said: “Countries around the world are dealing with rising inflation. Today’s inflation numbers are driven by the energy price cap rise in April, which in turn is driven by higher global energy prices.
