Oil prices help to push CPI inflation up to 3.5%: comment

“Rising petrol and diesel prices are pushing up UK inflation, driving growing pressure on UK families’ cost of living. With around forty million petrol and diesel vehicles on the roads [2] and more than three hundred billion miles driven in Britain each year [3], UK consumers are highly vulnerable to these rising fuel prices.
 
“With hundreds of pounds a year of savings available, households are increasingly trying to shield themselves with new EV sales up, but also a surge of interest on the second-hand EV market. But with the Government consulting on slowing the transition to EVs, this could lock more families into the fossil fuel rollercoaster ministers have said the UK needs to get off.“