Figures yesterday showed that the UK Retail Price Index (RPI), a measure that includes the cost of property, is now 4.4 per cent, up half a percentage point in a month. It was last at that level in December 1991, during a recession.
The Consumer Prices Index (CPI), the official target used by the Bank of England's Monetary Policy Committee when setting interest rates, was also up from 2.8 per cent to 2.97 per cent. It is now higher than at any time since December 1995.
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Nutty why have you been in pain lately?