Inflation hits fresh 40-year high as cost of living crisis deepens

UK inflation, the rate at which prices rise, climbed 9.1 per cent in the 12 months to May, a fresh 40 year high.

The ongoing surge is partly driven by energy costs, after an increase of £700 a-year in energy bills came into force last month.

Yet economists fear inflation will climb further in the months ahead, with the Bank of England estimating it could reach 11 per cent this year.

Modelling from the Office for National Statistics suggested this is the highest rate of inflation since at least 1982.

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