Monday, 17 May 2021 03:48 GMT

UK: Higher petrol prices increase cost of living

( MENAFN )The UK inflation rate increased to 0.7 percent in the 12 months to March, it augmented from 0.4 percent in February, up by the boosted cost of fuel, transport and clothes.

The number from the Office for National Statistics (ONS) was faintly below economists' predictions, with lower food prices offsetting other price upsurges.

The ONS stated that fuel prices in March revealed that their biggest yearly upsurge since January last year.

Inflation is predicted to boost further because of higher energy and oil prices.

The Bank of England has predicted that inflation could hit 1.9 percent by the end of this year, with other specialists stating that it will surpass 2 percent before the end of 2021.

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