Cost of living crisis worsens, piling pressure on Bank of England to raise interest rates again
Britain’s cost of living crisis worsened in December after inflation jumped to 5.4% – its highest level in almost 30 years – driven by the higher cost of clothes, food and footwear.
Heaping further pressure on Bank of England policymakers to push up interest rates when they meet next month, the prices of furniture and eating out also increased as shortages of staff and hold-ups at UK ports forced up the cost of imports.
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