Most of us are more than aware of how much more we are paying for food, fuel and power. Today the true picture of how much the cost of living is rising has been revealed with new figures released by the Office for National Statistics (ONS).
It showed inflation had hit a 40-year high with the consumer prices index (CPI) measure showing it was 9.4% in June compared with 9.1% in May. This means more pressure on our pockets for almost everything.
For rising inflation means costs are on the up. So if something cost £1 a year ago and the rate of inflation is 9.4%, it would cost £1.094 today, reports The Mirror.
