Rising costs are hitting households from the poorest to the wealthiest, with more misery to come, a leading economic think tank warned. The latest inflation figures from the Office for National Statistics (ONS) said Consumer Prices Index (CPI) inflation rose to 9.4% in June, up from 9.1% in May.
Torsten Bell, chief executive of the Resolution Foundation, which focuses on living standards, said the figures contained “bad news for everyone”. Food prices were rising faster than the headline rate – at 9.8% – which was a “disaster for poorer households”, Mr Bell said, while soaring petrol prices were hitting wealthier families – fuel costs have increased 42.3% in the last year.
The most up to date RAC figures show that the average Unleaded petrol price in the UK is 187.88p, while diesel is at 196.37p. The Manchester Evening News has compiled a list of the cheapest petrol pumps in each borough of Greater Manchester.
