UK annual inflation reached 7% in March

The United Kingdom’s annual inflation accelerated to 7% in March from 6.2% in February, hitting a record high since 1992, the Office for National Statistics said on Wednesday.

“The Consumer Prices Index (CPI) rose by 7.0% in the 12 months to March 2022, up from 6.2% in February. On a monthly basis, CPI rose by 1.1% in March 2022, compared with a rise of 0.3% in March 2021,” the government body said in a statement.

In February 1992, the rate stood at 6.3%.