Prices are rising at their fastest rate for 30 years, driven by a sharp increase in petrol and diesel costs.

The UK inflation rate rose to 7% in the year to March, the highest rate since 1992 and up from 6.2% in February.

Prices are rising faster than wages and there is pressure on the government to do more to help those struggling.

The cost of living is expected to rise even further after the energy price cap was increased, driving up gas and electricity bills for millions.

Inflation is the rate at which prices rise. If a bottle of milk costs £1 and that rises by 5p, then milk inflation is 5%.

Fuel had the biggest impact on the inflation rate, with average petrol prices rising by 12.6p per litre between February and March, the largest monthly rise since records began in 1990, the Office for National Statistics (ONS) said.

This compares with a rise of 3.5p per litre between the same months of 2021.

Diesel prices also rose by 18.8p per litre this year, compared with a rise of 3.5p per litre a year ago.

The rise in the inflation rate was higher than the 6.7% expected by analysts and was also driven up by furniture, restaurant and food prices.

The figures for March do not yet reflect the average £700-a-year increase in energy bills that took place from 1 April when the energy price cap was raised.

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