everything we need today. they go from national security all the way down to your toaster and everything in between. bret: talk about cars. inflation, new and used cars a lot of things go into inflation. but new cars, 12.6%. use cars and trucks 16.1%. and that has a lot to do with the inability to get chips and supply chain problems. mid size cars has over 200 chips inside of it chips are computers on wheels. bret: what s the problem? what is the holdup? you talked to people up on capitol hill. i think both side see the chips for chips and chip manufacturing in the united states the issue is when you have a bill that has support, bipartisan support, what else can be attached to it. we need to strip out all the external things hanging on this bill and get to the basic core bill. bret: all right. last thing. i know you are watching all this january 6th hearing stuff and you were a part of the trump
our top story this lunchtime. inflation has reached a 30 year high, driven by the soaring prices of food and fuel. the cost of living increased by 7% in the year to march, the fastest rate for 30 years. the inflation figures are up from 6.2% in february 2022. inflation is expected to rise even further after the energy price cap was increased, driving up gas and electricity bills for millions. 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 personal finance correspondent kevin peachey is here. so lots of numbers in there, can you tell us what it all really means? it means the cost of living squeeze is
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
figures released by the uk s largest independent producer of official statistics show that the cost of living has risen again last month, partly driven by higher fuel prices. the office for national statistics figures show prices have risen by 7% in the 12 months to march, the fastest rate for 30 years. to march, the fastest rate for 30 the inflation figures are up from 6.2% in february inflation is expected to rise even further after the energy price cap was increased, driving up gas and electricity bills for millions. 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 economics correspondent andy verity told me more it is the fuel, the energy. as you mentioned in the vt, we are seeing these big increases in the price of petrol and diesel. in fact, according to the office for national statistics, they