Inflation hits 9.1% as fuel prices soar

The latest inflation figure for May has hit 9.1%, up slightly on the previous month as fuel and energy prices continue to weigh on prices

This is the highest figure since 1982 and the Bank of England expects inflation to hit 11% this autumn when the new energy price cap comes into effect.

The contributions from housing and household services, and transport, account for 4.29%, which is more than half of the 12-month inflation rate for May 2022.

Rising prices for food and non-alcoholic beverages, compared with falls a year ago, resulted in the largest upward contribution, the Office for National Statistics said.

Perhaps most alarming are the energy price increases with the rise in gas and electricity prices resulting in 12-month inflation rates of 53.5% for electricity and 95.5% for gas in April.

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