Economy

Inflation: What's driving the surge?

Andy Fyers
Thu, 21 Apr 2022

Inflation: What's driving the surge?
Annual inflation hit 6.9% on Thursday, the highest rate in decades. (Image: Deposit Photos)
Andy Fyers
Thu, 21 Apr 2022
Inflation has hit its highest level in more than three decades at 6.9% for the 12 months to March.But underneath that headline figure are a wide range of inflation rates for different types of goods and services.The Consumers Price Index has 11 main groups which it tracks prices across.The housing and utilities, transport groups and to a lesser extent food have been the big drivers of the headline inflation rate.Transport inflation, which carries a 12% weighting in the CPI basket, is running at 14% annually.While housing and utilities, which ac...

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