What it means in Finance terms: Inflation hits 9.1% causing misery for millions - The Santa Clarita Valley Proclaimer

INFLATION has hit a 40-year high of 9.1%, according to new figures

The consumer price index (CPI) measure of inflation hit a 40-year high of 9% in April

Today's inflation rate is the highest since 1982, the ONS said. But struggling households are still being warned that the worst is yet to come

We are using all the tools at our disposal to bring inflation down and combat rising prices – we can build a stronger economy

Inflation is a measure of how the price of goods and services have changed over the past year

The inflation rate is a so-called backward looking measure, which means it shows how prices have changed over the past 12 months

But with energy bills now expected to hit £3,000 by the end of the year and petrol reaching new record highs

Today's figures show transport, housing costs and energy bills were among the main factors pushing up inflation

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