The Office for National Statistics reported a significant inflation increase to 3.5% in April, the highest since October 2022, largely attributed to a 6.4% rise in the energy price cap set by Ofgem, along with increases in council tax and water charges. Chancellor expressed disappointment with the economic situation and is determined to alleviate the burden on families. Shadow Chancellor criticized these inflation figures as a result of Labour's economic policies, while experts suggest inflation may remain elevated for some time ahead.
The large rise in inflation is the highest since October 2022 which comes after Ofgem's energy price cap rose by 6.4% in April including sharp rises in council tax and water charges.
We left Labour with inflation bang on target, but Labour's economic mismanagement is pushing up the cost of living for families - on top of the £3,500 hit to households from the Chancellor's damaging jobs tax.
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