UK Inflation Rate Soars To Highest In Last 30 Years
According to official data, the UK inflation jumped to 5.4% in December, becoming the highest in 30 years. It has put more pressure on the Bank of England to raise interest rates next month. The higher energy costs, resurgent demand, and supply chain issues continued to drive up consumer prices. The surge in CPI is likely to impact food and drink, restaurants, furniture following household goods.