UK inflation rate returns to 40-year high in fresh blow for savers | Personal Finance | Finance

Following inflation’s return to a 40-year high, Paul Heywood, the Chief Data and Analytics officer at Equifax UK said: “The Government’s fiscal U-turn may have steadied the markets, but it has done little to balance the books for households across the UK.

“Prices for everyday items continue to rise, and while the cost of keeping homes lit and warm has been capped until April next year, they are still 96 percent higher than last winter, and are one of the biggest costs eating away at real wages.

“Our data show that millions of households are already struggling to keep up with utility bills, and the weather has yet to turn.

“The Government has taken welcome steps to help people with spiralling utility bills, but we must acknowledge that millions will still struggle over the months to come, especially when the economic winter blows in.”