Sharp rises in the cost of commodities, particularly energy and food, continue to put pressure on the cost of living for UK households, as inflation rises to 9% in April from 7% in March, its highest level since 1982.
CPI is running at its fastest pace in 40 years, due largely to the rise in costs of energy rises in housing and transport. According to CEO & CIO at BRI Wealth Management Dan Boardman-Weston, the Bank of England is now in a "really tricky spot" as it faces raising rates in a slowing economy: "Significant increases in the cost of living, the national insurance hike and interest rate increases have started to affect consumer demand and sentiment and the economic outlook looks darker than it has for some time," he said. "We fear that any tax cuts that are being mooted by the Treasury ...
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