Sputnik is live as United Kingdom Chancellor Rishi Sunak delivers a statement at the House of Commons announcing a new package of financial support, likely to include a discount on energy bills funded by a windfall tax on oil and gas giants.
According to the UK Office for National Statistics, the main contributor to soaring inflation is the rising cost of electricity, gas and other fuels, which, subsequently, drives the housing prices up. In general, the UK witnessed a 54%-increase in energy prices in April, with a major increase in motor fuels, by 31.4%, which in turn, led to surging transport costs.
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