Inflation Surges Amid Energy Costs

Inflation’s heating up faster than expected, with consumer prices surging 3.7% year-on-year — the biggest jump since early 2024 — largely fueled by skyrocketing energy costs, especially home heating oil, up 80% in 12 months. Finance Minister Simon Harris now forecasts inflation could hit 3.75% this year, up from 3.3% just last month and a sharp climb from earlier projections near 1.8%. While growth is still on track, it’s expected to slow, and Harris warns the outlook remains fluid, heavily influenced by global events, especially in the Middle East. Energy remains the key pressure point as officials brace for higher prices and tighter economic conditions. Support the show:Get a discount at https://solipillow.com/discount/dnn. Advertise on DNN:[email protected] This is an automated, high-level news summary based on public reporting.Report issues to [email protected]. View sources & latest updates:https://sources.thednn.ai/38382f01fe7f5a36