Inflation Spike Alarms Britain

Retail price inflation soared to a near-20 year high of 5.3 per cent in April, from 4.4 per cent in March, according to the Office for National Statistics (ONS). Such a shocking figure – way higher than City estimates – has worrying implications for pay bargaining this year and future inflation and employment prospects, as the RPI measure is traditionally used for wage bargaining. It stands at its highest since July 1991.

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