13 Jun 2017

Inflation reaches highest level in three years

Business Editor

The cost of living has soared to its highest level in four years, increasing the squeeze on consumers. Inflation in May rose to 2.9%, higher than expected and fuelled by the rising cost of things like food, clothes, computers and toys. It means prices are going up faster than wages for many people, and there’s more pressure on businesses who have to cope with rising costs.