Inflation in Britain Has Risen to Its Highest Level in 30 Years

UK inflation rose to a 30-year high in December, as rising energy costs, rising demand and supply chain problems continued to push up consumer prices.

The inflation rate reached 5.4% annually, the highest level since March 1992, and an increase from 5.1% in November, which is itself the highest level in a decade.

Economists polled by Reuters had expected an increase of 5.2%.

On a monthly basis, consumer prices rose 0.5%, beating economists’ expectations for a 0.3% rise.