Food and fuel prices are rising fast, powering a far heftier rise in inflation than forecast [Image: Alexander Britton/PA].

I wonder what Philip Hammond will blame?

Rising food and fuel prices pushed Britain’s inflation rate to 2.3% last month, the highest rate for more than three years.

Inflation was well above the 2.1% expected in a Reuters poll of economists, as grocery bills started rising after years of food getting cheaper.

The bigger-than-expected rise will intensify fears over people’s living standards being squeezed this year by higher living costs. While inflation has been going up, wage growth has been slowing, leaving households worse off.

The TUC said working people were facing the double blow of rising prices and slower wage growth. “If the government doesn’t wake up, we risk sleepwalking into another living standards crisis,” said the TUC general secretary, Frances O’Grady.

Source: Rising food and fuel prices hoist UK inflation rate to 2.3% | Business | The Guardian

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