Rising energy costs considered to be the main contributor.
CPI rises to highest level in 40 years
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Current Affairs
Real-terms pay continues to fall
Soaring inflation affects real-terms pay, despite record wage increases.
Base interest rate rises to 3%
The Bank of England introduces its largest hike in 33 years.
Third of hospitality businesses at risk of going bust
Soaring energy and food prices are putting a strain on the sector.
Weekly footfall below pre-pandemic levels
Credit and debit card spending drops across all areas.
Median real terms pay falls by 2.6%
Soaring inflation sees real terms rate drop in the year to April.
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