APLondon: Britain's inflation rate has surged to a 40-year high on soaring energy costs, official data showed Wednesday, sparking calls for an emergency government budget to combat a worsening cost-of-living crisis.
Annual inflation soared to 9% in April from 7% in March, the Office for National Statistics said, delivering another heavy blow to Britons whose wages were already failing to keep pace with surging prices.
April's headline figure marked the highest inflation rate since 1982, the ONS added.
Major economies are being hit by decades-high inflation as the Ukraine war and lifting of Covid lockdowns fuels especially energy and food prices.
This in turn has forced central banks including the Federal Reserve and Bank of England to hike interest rates.
According to the ONS, the squeeze on UK household budgets tightened further in April also on a British tax hike as the government looks to improve state coffers battered by Covid support.
Despite rising calls for Britain's Conservative government to ease the pain of soaring inflation, finance minister Sunak insisted the state "cannot protect people completely".
Reacting to Wednesday's data, he blamed the situation on "global challenges" and noted Britain was not alone in dealing with rocketing prices.
The main opposition Labour party again demanded an emergency budget to help Britons cope with a threat of recession.
"Our country faces a cost-of-living crisis, and a growth crisis," said Labour finance spokeswoman Rachel Reeves. "We need an emergency budget now to tackle the cost of living crisis, and we need a real plan for growth." AFP
Annual inflation soared to 9% in April from 7% in March, the Office for National Statistics said, delivering another heavy blow to Britons whose wages were already failing to keep pace with surging prices.
April's headline figure marked the highest inflation rate since 1982, the ONS added.
Major economies are being hit by decades-high inflation as the Ukraine war and lifting of Covid lockdowns fuels especially energy and food prices.
This in turn has forced central banks including the Federal Reserve and Bank of England to hike interest rates.
According to the ONS, the squeeze on UK household budgets tightened further in April also on a British tax hike as the government looks to improve state coffers battered by Covid support.
Despite rising calls for Britain's Conservative government to ease the pain of soaring inflation, finance minister Sunak insisted the state "cannot protect people completely".
Reacting to Wednesday's data, he blamed the situation on "global challenges" and noted Britain was not alone in dealing with rocketing prices.
The main opposition Labour party again demanded an emergency budget to help Britons cope with a threat of recession.
"Our country faces a cost-of-living crisis, and a growth crisis," said Labour finance spokeswoman Rachel Reeves. "We need an emergency budget now to tackle the cost of living crisis, and we need a real plan for growth." AFP
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