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Cost of living hits record high in UK

Cost of living hits record high in UK

The cost of living in the UK has increased at almost its fastest pace in 30 years in the year to December, BBC has reported.

The UK's Consumer Prices Index measure of inflation rose to 5.4% from 5.1% in November, the Office for National Statistics (ONS), said.

In March 1992, the UK recorded a higher inflation rate,  which rose to 7.1%.

It is reported that rising cost of petrol and second-hand cars contributed to December's increase, as did household costs, especially gas and electricity bills.

This followed the increase in the cap on energy prices, which changed on 1 October last year.

Food and non-alcoholic drinks, furniture and household goods all went up in price as well.

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Author: BBC

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