The UK’s inflation rate remained high in April, at 8.7%, according to data released by the Office for National Statistics (ONS) on Wednesday.
This is higher than the 8.3% rate recorded in March and the highest level of inflation since March 1982.
The ONS said that several factors, including rising energy prices, higher food prices, and increased transport costs, drove inflation.
The ONS also said there were signs that inflation was starting to slow, but it was still likely to remain high for some time.
The Bank of England has already raised interest rates five times since December to bring inflation under control. However, economists believe more rate hikes will be needed in the coming months.
In a statement, the Bank of England said it was “very concerned” about the level of inflation and would “take whatever action is necessary” to bring it down.
The government has also taken steps to help people cope with the rising cost of living. It announced a £150 council tax rebate for households in bands A-D and a £200 energy bill discount in April.
However, these measures are unlikely to be enough to offset the full impact of inflation. Many people are already struggling to make ends meet, and the cost of living crisis will likely worsen before it gets better.