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UK inflation soars to 9% in April and hits 40-year high

British inflation last month rose to its highest annual rate since 1982, pushing finance minister Rishi Sunak to step up aid to families facing an increasingly severe cost-of-living crisis.

Consumer price inflation hit 9% in April, the Bureau of National Statistics said on Wednesday, surpassing the recession peaks of the early 1990s that many Brits remember due to sky-high interest rates and mortgage defaults. widespread.

Economists polled in a Reuters poll had projected a reading of 9.1%, after rising 7.0% in March.

The UK now has the highest inflation rate among Europe’s major economies and almost certainly the G7, as Canada and Japan have yet to report April figures.

“We cannot fully protect people against these global challenges, but we are providing significant support where we can, and we are ready to take further steps,” Sunak said.

Higher energy bills made the biggest contribution to the inflation result, reflecting the increase in regulated energy tariffs last month. The side effects of the Russian invasion of Ukraine mean those accounts are likely to jump higher.

Households are facing the biggest cost-of-living squeeze since records began in the 1950s, according to British budget experts, and consumer confidence has plummeted to all-time lows.

Source: CNN Brasil

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