Will UK inflation top the three-decade high hit in December?
UK consumer prices are expected to have risen at the same pace in January as they did in December, when they hit a 30-year record of 5.4 per cent.
Economists polled by Reuters forecast the annual pace of inflation to land at 5.4 per cent again when data is released on Wednesday.
UK inflation is “being pushed higher by a triple whammy of higher energy costs, resurgent demand and supply chain issues,” said Susannah Streeter, markets analyst at the financial services company at Hargreaves Lansdown. She added that “with little relief to these pressures yet in sight, consumers are having to get used to a big cost of living squeeze.”
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