UK inflation hits 7%; Yellen warns of global growth hit – business live
Rolling coverage of the latest economic and financial news
- Yellen: More worried about recession in Europe than US
- Abramovich assets frozen in Jersey
- Full story: Inflation hits 7% in March as Britain’s cost of living soars
- Feature: ‘Everything’s going up apart from wages’:
- Intro: UK inflation highest since 1992
- Student loan interest rates to hit 12%, as RPI reaches 9%
- Food and drink up 5.9%, fastest since 2011; Factories hit by rising prices
Prices at restaurants and hotels jumped 2% between February and March 2022, the largest monthly change since the ONS data started in 1988.
This came principally from the rising cost of alcoholic drinks served in restaurants, cafes and public houses, and from accommodation services.
“It seems that when people re-started their social lives as restrictions ended in March, the places they visited were able to pass on their own higher costs to their returning customers.”
