Rolling coverage of the latest economic and financial news
- Introduction: cost of living crisis deepens
- Full story: UK inflation rises to 30-year high of 5.5%
- RPI inflation surge will push up debt repayments
- UK interest rate rises loom
- Factory gate inflation also jumps higher
- ‘People are desperate’: Kent food bank and families hit hard by inflation
- ‘We’ve had a run on champagne:’ Biggest UK banker bonuses since financial crash
Retail price inflation, a longer-running measure of rising prices, has surged to 7.8%, its highest level since March 1991.
RPI includes measures of housing costs. The ONS says RPI is no longer accurate, but it is still used to set some payments - such as the interest rate on student loans, and the interest payments for some government bonds.
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