UK inflation jumps to 30-year high

The jump in UK inflation to a near-30-year high of 5.4%, Report informs.

The Consumer Price Index (CPI) rose 5.4% in the 12 months to December 2021, according to the data.

This is the highest annual inflation rate since the start of statistics in January 1997, and the highest since March 1992 on historically modeled data, when inflation stopped at 7.1%.

Housing and utilities have risen in price most of all amid the high prices for gas and electricity.

Prices also rose for transport, food, non-alcoholic beverages, restaurants, hotels, furniture, clothing and footwear.