Inflation in the United Kingdom has risen at the fastest rate in almost 30 years as increased costs for energy, housing and transportation squeezed household budgets
Highlights
- Consumer price index ticked up to 5.5% in the 12 months through January.
- Latest figure is the highest since March 1992, when inflation reached 7.2%.
- U.K.
- consumers are reeling from a surge in utility bills fueled by increased demand for energy worldwide.
- By comparison, U.S.
- consumer prices jumped 7.5%, the highest rate in 40 years.