Inflation In UK Hits 30-Year High
Inflation in the UK reached 5.4% in December 2021, the highest since 1992, data from the country’s national statistics service showed.
According to the information, the consumer price index (CPI) rose 5.4% in the 12 months to December 2021. It is the highest annual inflation rate since statistics began in January 1997, and the highest since March 1992, according to historically modelled data, when inflation stopped at 7.1 per cent.
Housing and utilities increased the most, mainly due to high gas and electricity prices.
Prices have also risen for transport, food, non-alcoholic beverages, restaurants, hotels, furniture, clothes and shoes.