UK consumer prices rise at fastest pace in almost 30 years

By DANICA KIRKA
Associated Press

LONDON (AP) — Consumer prices in the United Kingdom have risen at the fastest pace in almost 30 years as higher costs for energy, transportation, food and furniture squeezed household incomes. The Office for National Statistics said Wednesday that inflation measured by the consumer price index accelerated to 5.4% in the 12 months through December. That’s the highest rate since March 1992, when inflation stood at 7.1%. Economists warned that inflation is likely to rise further in coming months as the full impact of a recent surge in energy prices hits consumers. The government is under pressure to mitigate the jump in energy prices.