And the Office for National Statistics in Britain said, on Wednesday, that consumer price inflation accelerated from 7 percent the previous month to 9 percent within the 12-month period to April, the highest rate since 1982, when inflation reached 11 percent, according to statistical models for the Office for National Statistics. .
Millions of households across Britain saw a 54 per cent rise in gas and electricity bills last month, after regulators raised energy price caps to reflect earlier increases in wholesale prices.
Russia’s “special” military operation in Ukraine has further put pressure on food and energy prices.
These statistics are expected to increase pressure on the government to alleviate a cost-of-living crisis that economists expect will result in the largest drop in living standards since the 1950s.
The Associated Press quoted British media on Wednesday that the government has cut income taxes and is making plans to increase subsidies for low-income people who are struggling to pay fuel bills.
It is also considering imposing a profit tax on energy companies that benefit from high oil and gas prices.
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