BUSINESS

U.K. Consumers Wrestle With Price Inflation

U.K. consumers have seen price inflation surge to the highest level in three decades, heaping pressure on households already facing a massive increase in energy costs.

According to the Office for National Statistics, inflation increased to 5.4% in December, the highest rate since 1992.

Consumers have seen the highest price rises in transportation, food and beverages, furniture, housing, and household goods.

Prices are not commensurate with wages, thus making it more difficult for households to make ends meet.

Wages increased at an annual rate of just 3.8% in December.

Readers Bureau

Edited by Jesus Chan

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