UK inflation spikes hits a 30 year high

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Annual inflation was up at 5.4% in December, the highest value for almost 30 years.

A high rate of inflation means that if wages don't rise to keep track, goods and services soon start to become harder to afford.

While figures from the Office for National Statistics (ONS) reveal the rise is mainly down to energy prices, last month food and non-alcoholic beverages were most to blame.

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