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As energy prices rise, UK inflation reaches a 40-year high of 9%

by Pooja Sahu
May 18, 2022
in Business
0
As energy prices rise, UK inflation reaches a 40-year high of 9%

Prices are rising at the fastest rate in 40 years, with higher energy bills affecting millions of households.

UK inflation, or the rate at which prices rise, increased to 9% in the year to April, up from 7% in March.

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The increase came after millions of people saw their energy costs rise by an unprecedented £700 per year last month.

Higher fuel and food prices are also raising the cost of living, with inflation expected to rise further this year as a result of the Ukraine war.

Citizens Advice said “the warning lights could not be flashing brighter” for the government to provide more assistance to households, and debt relief organisations urged anyone struggling to pay bills to seek help sooner rather than later in the year.
Around three quarters of the rise in inflation in April came from higher electricity and gas bills, according to the Office for National Statistics (ONS).
“There are desperate stories behind these figures,” said Dame Clare Moriarty, chief executive of Citizens Advice. “People washing in their kitchen sinks because they can’t afford a hot shower; parents skipping meals to feed their kids; disabled people who can’t afford to use vital equipment because of soaring energy bills.”

Tags: InflationUKUK economy

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