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INFLATION NATION: UK Inflation Hits 5.4% – Highest Since 1992

THE UK inflation rate hit its highest level since 1992 last month, at a whopping 5.4%.

The consumer price index (CPI) measure of inflation, up from 5.1% in November, was higher than economists had expected.

Inflation is the reason energy prices and food prices are rising – and is affected by the amount of money in the system or economy.

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The more money that is available to people, the higher the rate of inflation. The less money in the system – the lower the rate.

Due to Covid-19 financial relief handed out to millions via furlough – Brits are now facing the pinch.

HIGHEST SINCE 1992

BBC Radio 4 - Desert Island Discs, John Major

The consumer price index (CPI) measure of inflation, up from 5.1% in November, was higher than economists had expected.

It comes a day after official data showed wage rises for UK workers are already being wiped out by the surge in prices.

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