FAST FIVE: Brits 'Most Miserable' In 30 Years As Inflation Soars To Thatcher-Era High

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Brits 'Most Miserable' In 30 Years As Inflation Soars To Thatcher-Era High UK headline inflation hit 9% in April, marking its highest level in 40 years thanks in large part to the rising costs of gas and electricity which has driven the average bill close to £2,000 (US$2,484), according to the Office for National Statistics.

According to the Resolution Foundation cited by The Guardian, the poorest 10% of households faced an inflation rate of 10.2% in April, significantly higher than the 8.7% felt by the top 10% of earners.

In an attempt to mitigate the effects of inflation, the British Chambers of Commerce has called for the chancellor to hold an emergency mini-budget, according to The Guardian.

“The scale at which inflation is damaging key drivers of UK output, including consumer spending and business investment, is unprecedented and means there is a real chance the UK will be in recession by the third quarter of the year,” said Suren Thiru, the head of economics at the BCC.

Chancellor Rishi Sunak indicated he may try to find solutions to boost the incomes of those with the lowest pay, however the cabinet is reportedly split on how to fund billions of pounds in extra welfare.

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