Accessibility links

  • Skip to content
  • Accessibility Help

You are using an outdated browser. Upgrade your browser today for a better experience of this site and many others.

Click button to open menu
  • Home
  • About Us
    • About The Firm
    • Company History
    • Why Choose Us?
    • Meet the Team
    • Join the Team
    • Mission Statement
    • Corporate Social Responsibility
    • The Finnies App
  • Services
    • Services for Business
      • Overview
      • Accountancy
      • Auditing
      • Bookkeeping
      • Business Growth
      • Company Secretarial
      • Corporate Finance Services
      • Exit Planning
      • Human Resources Support
      • Payroll
      • Rescue & Recovery
      • Succession Planning
    • Services for Individuals
      • Overview
      • Retirement Planning
      • Self Assessment
      • Wealth Management
    • Tax
      • Overview
      • Personal Tax Planning
      • Corporate Tax
      • Estate and Inheritance Tax
      • Capital Gains Tax
      • HMRC Investigations
      • VAT Advice
      • International Tax
    • Cloud Accounting
      • Overview
      • QuickBooks Online
      • Xero
      • Making Tax Digital – What does it mean to me?
  • Specialisms
    • Manufacturing
    • Academies
      • Overview
      • Payroll Services
      • Responsible Officer Duties
  • Resources
    • Your business
      • Overview
      • Developing your business
      • Essentials
      • Limited companies
      • PAYE, NICs and benefits
      • Starting a business
      • VAT
    • Your money
      • Overview
      • Personal taxation
      • Savings & investments
    • Tax information
      • Overview
      • Autumn Budget
      • Spring Statement
      • Tax calendar
      • Tax rates and allowances
    • Resource Centre
    • Tax strategies
      • Overview
      • Tax and financial strategies 2025/26
      • Strategies for your business
      • Exiting your business
      • Tax and employment
      • Planning for yourself and your family
      • Making the most of savings and investments
      • A comfortable retirement
      • Tax-efficient estate planning
    • Interactive tools
      • Overview
      • Calculators
      • Companies House forms
      • HMRC forms
      • Links
    • IRIS OpenSpace
  • News
    • Business News
    • Hot Topics
  • Contact Us
finnies
Facebook X LinkedIn Google+ YouTube
01482 861919 enquiries@finnies.org.uk

Inflation hits 40-year high of 9.1% amid cost-of-living crisis

  1. News
  2. Business News
  3. Archive

22 Jun 2022

UK inflation has risen to 9.1% in May from 9% in April as the cost-of-living crisis continues, according to the latest data from the Office of National Statistics (ONS).

It is a slight increase on the 9% figure of the previous month, which was driven upwards by April's unprecedented rise in the energy price cap and is the highest since March 1982.

The ONS said rising prices for food and non-alcoholic drinks, compared with falls a year ago, pushed up the inflation rate.

In monthly terms, consumer prices were up 0.7% in May.

Economists expect the rate to lurk within the 9%-10% range in the coming months before leaping again in October when the next adjustment to the energy price cap is implemented.

Chancellor Rishi Sunak said: 'I know that people are worried about the rising cost of living, which is why we have taken targeted action to help families, getting £1,200 to the eight million most vulnerable households.

'We are using all the tools at our disposal to bring inflation down and combat rising prices - we can build a stronger economy through independent monetary policy, responsible fiscal policy which doesn't add to inflationary pressures, and by boosting our long-term productivity and growth.'

Latest news stories

13 Nov 2025

Budget 'make or break' after sluggish growth figures, says BCC

Chancellor Rachel Reeves is facing a 'make or break' Budget after sluggish growth figures were published for the third quarter of the year, says the British Chambers of Commerce (BCC).

12 Nov 2025

UK jobs market weakens as unemployment rises

Data published by the Office for National Statistics (ONS) has revealed that the unemployment rate rose to 5% in the three months to September.

11 Nov 2025

Employers expect AI to shrink workforce over coming year

Research carried out by the Chartered Institute of Personnel and Development (CIPD) has suggested that one in six employers anticipate that artificial intelligence (AI) will shrink their workforce over the next year.

Connect with us

Facebook LinkedIn X Google+ YouTube
Copyright

© 2025 Finnies Chartered Certified Accountants. All rights reserved.

We use cookies on this website, you can find more information about cookies here.
Address
Finnies Chartered Certified Accountants, 4-6 Swaby's Yard, Walkergate, Beverley HU17 9BZ

Please call:
01482 861919

Or email us:
enquiries@finnies.org.uk

Quicklinks

Home | Contact Us | Site map | Accessibility | Legals and Disclaimer | Help |

XERO logo quickbooks.png
Reviews and Ratings for accountant Neil Tomlin, Hull