The annual inflation rate in UK climbed to 7% in March from 6.2% in February, its highest since March 1992 and by more than expected by most economists, official data showed, intensifying the pressure on embattled Prime Minister Boris Johnson and his finance minister Rishi Sunak to ease the cost-of-living squeeze.
The month-on-month rise was the highest for the time of year since the Office for National Statistics' records began in 1988. Broad-based price rises, ranging from vehicle fuel to food and furniture, were behind the increase.
Households are facing the biggest cost-of-living squeeze since records began in the 1950s, according to Britain's budget forecasters, and the inflation overshoot is further bad news for the government too.
Sunak - previously seen as a leading candidate to succeed Johnson as prime minister - has seen his
popularity slide after a budget statement in March, which the public judged did too little to ease cost-of- living pressures, and recent revelations of his wife's tax avoidance. Sunak had said after the data was revealed, "I know this is a worrying time for many families which is why we are taking action to ease the burdens by providing support worth around 22 billion pounds in this financial year."
British inflation has seen an unprecedented rise over the past year, following a similar pattern to most other advanced economies as energy prices surged and pandemic supply-chain difficulties persisted. Retail price inflation rose to 9%, its highest since 1991.
