United Kingdom Inflation Rate

Annual inflation rate in the UK jumped to 9% in April, the highest level since 1982, prompted by rising prices for electricity, gas and other fuels, motor fuels and second-hand cars, in another sign consumers' living standards continue to squeeze. It compares with a rate of 7% in March and forecasts of 9.1%. Biggest upward pressure came from cost of housing and utilities (19.2% vs 7.7%), following the increase in the Office of Gas and Electricity Markets cap on energy prices. Electricity prices soared 53.5%, gas 95.5% and liquid fuels 113.9%. Cost of transport also continued to increase (13.5% vs 13.4%), with average petrol prices reaching a record of 161.8 pence per litre in April, compared with 125.5 pence per litre a year earlier. The inflation also accelerated for restaurants and hotels (7.9% vs 6.9%) and food and non-alcoholic beverages (6.7% vs 5.9%). On a monthly basis, consumer prices jumped 2.5%.