UK consumer price inflation rises at fastest clip in 30 years

British consumer price inflation leapt to its highest level in three decades last month, intensifying the pressure on embattled Prime Minister Boris Johnson and his finance minister Rishi Sunak to ease the cost-of-living squeeze.

The annual inflation rate climbed to 7.0 per cent in March from 6.2 per cent in February, its highest since March 1992 and by more than expected by most economists in a Reuters poll, the official data showed on Wednesday.

 

The month-on-month rise was the highest for the time of year since the Office for National Statistics’ records began in 1988.

Broad-based price rises, ranging from vehicle fuel to food and furniture, were behind the increase.

Households are facing the biggest cost-of-living squeeze since records began in the 1950s, according to Britain’s budget forecasters, and the inflation overshoot is further bad news for the government too.

“I know this is a worrying time for many families which is why we are taking action to ease the burdens by providing support worth around 22 billion pounds ($29 billion) in this financial year,” Sunak said after the data.

Johnson, Sunak reject calls to resign over fines 

UK prime minister Boris Johnson and Chancellor Rishi Sunak have rejected calls to resign, despite being fined by police for breaking lockdown rules in Downing Street in June 2020. The PM said he accepted “in all sincerity that people had the right to expect better” from him, while Sunak has offered an “unreserved apology” and paid the fine imposed on him by Scotland Yard. But opposition MPs said the PM and Sunak must quit. Agencies