UK inflation has accelerated to the highest rate in 30 years, squeezing living standards and putting pressure on the Bank of England to raise interest rates again.
Consumer prices rose at an annual rate of 5.5 per cent last month, up from 5.4 per cent in December and well above the 0.7 per cent in January 2021, data published by the Office for National Statistics showed on Wednesday.
UK inflation was more than double the Bank of England target of 2 per cent and was the highest since March 1992, when it reached 7.1 per cent.
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