INFLATION has soared to 9% according to new data from the Office for National Statistics, squeezing household budgets.
It means the consumer price index (CPI) has hit a 40-year high since it went up from 7% in March.
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Experts had predicted the figure to reach this high, which means Brits have less purchasing power than before.
Inflation is a measure of how much the prices of goods and services have changed over time.
When it goes up, prices on everyday items and essentials and bills also rise – which means you need to make the money from each month’s pay-packet stretch further.
Consumers are already battling rocketing energy bills along with hiked tax bills that came in last month.
And soaring energy bills were the biggest contributor to the rise in inflation, as this is the first time the data has taken into account April price cap hike.
The average household energy bill soared by 54% when the price cap increased on April 1.
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