The Office for National Statistics (ONS) has confirmed today that UK inflation has risen to 9% amid the growing cost of living crisis.
This is the highest it has been for 40 years.
The data released by the ONS today showed prices hiked across a broad range of everyday goods and services during April, but almost three-quarters of this inflation rise was said to be accounted for by the unprecedented 54% increase in the energy price cap – which kicked in at the start of the month.
Millions of people across the UK saw an unprecedented £693-a-year rise in energy costs last month when the a higher energy price cap was introduced.
The energy price cap – which is the mechanism that outlines the maximum amount that companies can charge to provide energy – has been credited with protecting around 22 million UK households from the worst of the price hikes after COVID-19 restrictions were eased and the war in Ukraine pushed up wholesale gas prices.
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The cap also prevented companies from passing on unprecedented increases to their customers.
But the average bill rose by 54%, or £693 annually, from April to £1,971, and the latest forecasts suggest bills could rise to almost £2,600 in October when the next price cap adjustment is due.
Record high prices for both petrol and diesel were other major factors in the inflation rise.
Speaking on the price hikes, Grant Fitzner – Chief Economist at the ONS – said: “Inflation rose steeply in April, driven by the sharp climb in electricity and gas prices as the higher price cap came into effect.
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“Around three-quarters of the increase in the annual rate this month came from utility bills… [and] steep annual rises in the cost of metals, chemicals and crude oil also continued, along with higher prices for goods leaving factory gates,” he added.
“This was driven by increases for food products, transport equipment and metals, machinery and equipment.”
The Bank of England has also released updated forecasts earlier this month that suggest inflation will top 10% later this year.
Chancellor Rishi Sunak says the government “stands ready to take further action” in response to the rise in inflation, explaining in a statement today: “Countries around the world are dealing with rising inflation [and] today’s inflation numbers are driven by the energy price cap rise in April, which in turn is driven by higher global energy prices.
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“We cannot protect people completely from these global challenges, but are providing significant support where we can.
Co-op Live confirms cancellations caused by part of air conditioning unit ‘falling from ceiling’
Daisy Jackson
The Co-op Live arena has confirmed the cause of tonight’s last-minute gig cancellation and subsequent postponement of future shows.
Reports said that an object had ‘fallen from the ceiling’ before doors to the public officially opened.
Co-op Live has now confirmed that ‘a component of the air conditioning system’ separated from the ductwork, and stressed that no one was injured.
A Boogie Wit Da Hoodie, the artist who was meant to perform tonight, had said that ‘something happened with the venue while I was at soundcheck today’.
Oak View Group, which owns the venue, said that it had ‘made the necessary call to ensure the full safety of all visitors to the venue to postpone the performance’.
Tim Leiweke, Chairman and CEO of Oak View Group said: “The safety and security of all visiting and working on Co-op Live is our utmost priority, and we could not and will not run any event until it is absolutely safe to do so.
“Today was a very unexpected situation but without a doubt the right decision.
“I deeply apologise for the impact that this has had on ticket holders and fans.”
It’s believed that the issue with the HVAC system was an isolated incident ’caused by a factory defect’.
Co-op Live said: “We were not able to verify that all similar nozzles were free of such defects.
“In conjunction with wider stakeholders, Oak View Group has made the necessary call to ensure the full safety of all visitors to the venue, and to postpone the performance.”
The rest of the nozzles inside the huge arena will now be tested for similar defects.
They said in a statement: “We understand the need to reassure fans over future shows. We are working with artist management and promoters to limit the impact on the opening season schedule.
“Where necessary, we will identify alternate dates, and will continually reassess to provide fans with sufficient notice regarding imminent shows.
“Should shows be cancelled or rescheduled, fans will be contacted by their point of purchase and offered a full refund where preferred.”
Olivia Rodrigo’s two Manchester shows at Co-op Live have been postponed
Daisy Jackson
Olivia Rodrigo’s shows at Co-op Live in Manchester have been postponed after a night of drama for the new arena.
The star was meant to bring her GUTS Tour to the city on Friday and Saturday night.
But the huge 23,500-capacity arena has now confirmed that both of these gigs will be postponed.
New dates will be announced as soon as they’re confirmed.
Co-op Live said in a statement: “Due to an on-going venue-related technical issue, the scheduled performances of Olivia Rodrigo’s GUTS World Tour on 3rd and 4th May are being postponed.
“Ticket holders can either hold onto their tickets or obtain a refund from their point of purchase.
“We deeply apologise for the significant inconvenience this will cause for many.”
The massive arena was supposed to open for the first time to the public tonight with a performance by A Boogie Wit Da Hoodie.
But it was called off at the eleventh hour, with fans turned away from the doors just minutes before they were meant to open.
Co-op Live has now confirmed that the reason for the cancellation was that a piece of the HVAC (air conditioning) system had ‘separated from the ductwork’.
Rigorous testing on the rest of the system now needs to take place before fans can safely be welcomed inside.
Olivia Rodrigo has yet to issue a statement about her Manchester shows on 3 and 4 May being postponed.