Inflation for poorest households could hit 14% by October

New research by Institute for Fiscal Studies (IFS) has found that inflation for the poorest households is likely to increase even faster than for the richest, and could hit 14% in October. The IFS analysis incorporating an £800 increase to Ofgem’s tariff cap in October shows that the pattern of poorer households being hit harder…

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Inflation rises to 40 year high

The Office for National Statistics (ONS) has revealed that consumer price index inflation hit 9% in April, its highest level in more than 40 years.  Commenting on today’s inflation figures for April, ONS Chief Economist Grant Fitzner said “Inflation rose steeply in April, driven by the sharp climb in electricity and gas prices as the…

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Households suffer as inflation hits 30 year high

14th April 2022 Global | #inflation

Office for National Statistics (ONS) data shows that inflation hit a 30-year high of 7% in March. The increase marks the highest level of inflation since the 7.1% rate recorded in March 1992. Inflation increased from the 6.2% seen in February and also came in higher than the 6.7% expected by analysts. The increase does…

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Poorest hardest hit by inflation

A report from EY Item Club has revealed that the fifth of households on the lowest incomes will be hit the hardest by rising inflation – suffering a 9.6% rise in living costs compared with an average of 8.6% for the richest fifth of households. EY Item Club economists say inflation will peak next month…

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Households facing ‘triple threat’ of rising inflation, energy price hikes and tax increases

16th February 2022 Consumer Collections | #inflation

Inflation in the UK increased to the highest rate for three decades in January as the impact of rising energy bills fed into a wide range of goods and services, adding to the squeeze on household living standards according to the latest Office for National Statistics (ONS) said the consumer price index measure of inflation increased…

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