energy prices at the beginning of april. one thing is almost certain when we get inflation figures for next week, they will have gone even higher. let s talk to our economics correspondent andrew verity. what is fuelling this inflation? you correspondent andrew verity. what is fuelling this inflation? fuelling this inflation? you have already answered fuelling this inflation? you have already answered your - fuelling this inflation? you have already answered your own - fuelling this inflation? you have - already answered your own question, it is the fuel and the energy. as you have mentioned in the vt, we have seen big increases in the price of petrol and diesel. according to the ons they are at record highs right now. about 1.61 litre and a litre of diesel is about 1.70. that is the highest it has ever been. and also the rise since last year is about 30%. you cannot have that happening without it having knock on effects. the price of containers and generally the price of raw materi
the office for national statistics said the biggest contributor to rising inflation was transport, with average petrol prices rising by 12.6p per litre between february and march, the largest monthly rise since records began in 1990. our economic correspondent andy verity has more. we re seeing these big increases in the price of petrol and diesel. in fact, according to the office for national statistics, they are at record highs right now. a litre of unleaded is on their average about £1.61 a litre, and a litre of diesel is about £1.70, the highest they have ever been. also the rise since last year is about 30%. you cannot have that happening without it having knock on effects. as we were hearing there, the price of containers, and generally, the price of raw materials, is going up at record rates. we saw a 19% increase in the prices manufacturers pay for raw materials. sometimes they can absorb those fluctuations, but it is too much, they have to pass it on to consumers. that is wh
right now. a litre is about 1.61 as a litre, and a litre of diesel is about £1 70, the highest they have ever been. also the rise since last year is about 30%. you cannot have that happening without it having knock on effects. as we were hearing there, the price of containers, generally the price of raw materials, is going up at record rates. we saw a 19% increase in the prices manufacturers pay for raw materials. sometimes they can absorb those fluctuations but it is too much, they have to pass it on to consumers. that is what you have got 7% inflation. if you look at the old fashioned retail prices when we were kids and mars bars are going up from 5p up to 10p, that is the highest it has been since 1991, the rpi at 9%. that matters because a lot of pensions are linked to the retail prices index, so for pension schemes to pay those pensions it makes it more expensive. the government has something like £343
hearings until 2023, so as to whether that will report in time for the next election is anyone s gas. thank you, hugh pym. growth bounced back in the uk economy injanuary with gross domestic product incrasing by 0.8 per cent over the month. it wiped out a 0.2 per cent drop the previous month. it means that gdp is above its pre pandemic level, though analysts are warning there ll be serious economic consequences of russia s invasion of ukraine, with added inflationary pressures. and petrol prices have risen above £1.60 a litre on average for the first time as the war in ukraine continues to affect the worldwide cost of oil. unleaded petrol hit £1.61 a litre yesterday, having risen by 8p in a week, while diesel reached £1.70 a litre. the rac has warned that prices at the pump are set to remain high for some time. a triple killer who murdered a mother, her son and a stranger