News, Uncategorized


Britain’s cost of living squeeze intensified further last month, according to official figures showing inflation reached 6.2% in February – announced before Rishi Sunak’s spring statement.

Figures from the Office for National Statistics showed a jump in the government’s preferred measure of the cost of living from 5.5% in January, fuelled by the rising cost of petrol and diesel and a wide range of goods from food to toys and games.

DCO Global News
Published on March 23,2022
By Odoh Dominic Chukwuemeka

The February inflation figure for the consumer prices index was higher than the 5.9% predicted by a Reuters poll of economists, illustrating the scale of the squeeze on UK households from soaring living costs.

According to the latest snapshot, soaring inflationary pressure was fuelled by rising costs for gas and electricity, as well as average petrol and diesel prices hitting record highs in a blow to motorists.

Prices for clothing, footwear, furniture and flooring all rose after the end of the traditional January sales on the high street, reversing a trend from a year earlier when prices dropped during the third nationwide Covid lockdown when many shops were forced to close.

Business groups and Labour warned that the chancellor needed to take urgent action to address rising living costs in his spring statement. Sunak will announce his set-piece tax and spending update to the Commons on Wednesday afternoon, with expectations that additional support for households will be announced.

Rachel Reeves, the shadow chancellor, said plans to increase national insurance contributions needed to be ditched as part of measures to support workers through the tightest squeeze on living standards for at least three decades.

“As he heads into his spring statement, he can either choose an unfair tax rise on working people and business at the worst possible time. Or he can cancel his tax rise, and ease the cost of living hitting families by cutting energy bills by up to £600 through bringing in a one-off windfall tax on oil and gas producer profits,” she said.

The latest increase in the consumer prices index took the measure of inflation to the highest rate since March 1992, when it stood at 7.1%. Further increases are expected as higher motoring costs triggered by Russia’s invasion of Ukraine and April’s increase in domestic energy prices take effect.

The Bank of England said last week it expected inflation to be about 8% in April with the risk of a double-digit increase in the autumn if there is another sharp increase in the energy price cap.

Reflecting the potential for higher inflation in future, the ONS said the price of goods leaving UK factories had been rising substantially and was now at the highest rate for 14 years.

Matt Whittaker, the chief executive of Pro Bono Economics, said the latest inflation figures meant a typical single parent will face paying out an estimated additional £315 in food and heating this year compared with 2019, while bills for a family of four are likely to jump by £580.

“With inflation driven by staples such as food and fuel, the everyday impacts of inflation will be felt most sharply by the poorest,” he said.

… we have a small favour to ask. Tens of millions have placed their trust in the Guardian’s fearless journalism since we started publishing 200 years ago, turning to us in moments of crisis, uncertainty, solidarity and hope. More than 1.5 million supporters, from 180 countries, now power us financially – keeping us open to all, and fiercely independent.

Unlike many others, the Guardian has no shareholders and no billionaire owner. Just the determination and passion to deliver high-impact global reporting, always free from commercial or political influence. Reporting like this is vital for democracy, for fairness and to demand better from the powerful.

And we provide all this for free, for everyone to read. We do this because we believe in information equality. Greater numbers of people can keep track of the global events shaping our world, understand their impact on people and communities, and become inspired to take meaningful action. Millions can benefit from open access to quality, truthful news, regardless of their ability to pay for it.

If there were ever a time to join us, it is now. Every contribution, however big or small, powers our journalism and sustains our future.Support the Guardian from as little as $1 – it only takes a minute.
If you can, please consider supporting us with a regular amount each month. Thank you.

By Odoh Dominic Chukwuemeka

Your support matters.
Sustain independent journalism.


Click to Follow our website

FaceBook Page; DCO Global News

DCO Global News Contacts;
For information on Press Releases, News, Advertisements, Videos, Photos, Events happenings, Promotional Events and Adverts, Share your stories with us, Please Call or Send a Text to our Whatsapp number; +886963563485, +886970840314.
Or send an email to;,

(Like and Follow our Facebook Page; DCO Global News)

(Follow us on Twitter; @Dcoglobalnews)

(Follow us on LinkedIn; Dco Global News)

(Follow us on Tumblr; Dcoglobalnews)

(Follow us on Google +; Dco Global News TV)

(Subscribe to our YouTube Channel; DCO Global News TV)

Subscribe to our Telegram Channel DCO Global News.

Follow our Website http www.

Advertise with us.
Send us enquiries, Press releases.

DCO Global News Promotes the Values of Democracy, Human Rights, Values of Life and Freedom of Expression in a Region Where Genuine Media Freedom Remains Elusive and where many Media outlets remain Divided along Ethnic Lines.
Let’s 🚶 Walk the 🚶 Walk 🚶 Together.
Don’t miss a thing, get the latest updates to fuel your conversation daily.

For 2022, DCO Global News commit to another year of high-impact reporting that can counter misinformation and offer an authoritative, trustworthy source of news for everyone. With no shareholders or political owner, we set our own agenda and provide truth-seeking journalism that’s free from commercial and political influence. When it’s never mattered more, we can investigate and challenge without fear or favour.

(Support DCO Global News.)

TEXT AD: To advertise here.
Call Dominic +886970840314…
All Rights Reserved.

1 thought on “UK INFLATION HITS NEW 30-YEAR HIGH OF 6.2%”

Leave a Reply

Fill in your details below or click an icon to log in: Logo

You are commenting using your account. Log Out /  Change )

Twitter picture

You are commenting using your Twitter account. Log Out /  Change )

Facebook photo

You are commenting using your Facebook account. Log Out /  Change )

Connecting to %s