Contact Us





Britannic House, 279 Chanterlands Avenue, Hull, HU5 4DS

Monday - Friday: 9am - 5pm

01482 447 922

info@evansandco.co.uk

Follow us on Facebook

Close this window

Book a Free Consultation






:


Close this window

Get An Instant Quote

First, tell us a bit about your business...





Next, tell us about the services you'd like us to provide...






Finally, tell us a bit about yourself...






We don't share your details with anyone

Close this window

Inflation hits 40-year high

Inflation has hit its highest level in 40 years amid the deteriorating cost-of-living crisis, according to the latest figures from the Office for National Statistics (ONS).

Inflation has hit its highest level in 40 years amid the deteriorating cost-of-living crisis, according to the latest figures from the Office for National Statistics (ONS).

The rate shot up to 9% last month - its highest level since comparable readings in 1982.

Data released by the ONS showed a broad-based hike in prices for everyday goods and services during April, with a significant cause of the increase accounted for by the unprecedented 54% increase in the energy price cap, which kicked in at the start of the month.

The highest prices on record for both petrol and diesel were other major factors.

Commenting on the data, Rain Newton-Smith, Chief Economist at the Confederation of British Industry (CBI), said:

'Inflation was always likely to hit hard in April given the energy price cap increase.

'Looking ahead, inflation is likely to stay high, with a resulting historic squeeze in households' incomes and a tough trading environment for businesses.

'It is critical the government explores options to help people facing real hardship now, and support cashflow for vulnerable firms. Stimulating business investment is also crucial, to both plug the near-term gap in growth and to shore up the economy's potential to withstand future shocks.'

Internet link: ONS website CBI press release

Latest Articles

Chancellor announces windfall tax on energy firms

Chancellor Rishi Sunak will impose a windfall tax on energy firms alongside a package to help households with the cost-of-living crisis.

Read Article

Energy price cap set to rise to £2,800 in October

The energy price cap is now expected to rise to around £2,800 in October, according to the UK's energy regulator.

Read Article

Inflation hits 40-year high

Inflation has hit its highest level in 40 years amid the deteriorating cost-of-living crisis, according to the latest figures from the Office for National Statistics (ONS).

Read Article

View All Articles