Cost of Living Crisis: Businesses and consumers hit by record high inflation

Inflation has risen to a 30-year high from increasing energy costs, and Russia's invasion of Ukraine impacting British homes and businesses.

The war has led oil prices hitting levels not seen for 14 years, and has affected other staples like wheat and sunflower oil.

Average petrol prices rose by 12.6p a litre between February and March, the largest monthly increase since records began in 1990 according to the ONS.

Sky News' Business Correspondent Paul Kelso reports.

SUBSCRIBE to our YouTube channel for more videos: http://www.youtube.com/skynews

Follow us on Twitter: https://twitter.com/skynews
Like us on Facebook: https://www.facebook.com/skynews
Follow us on Instagram: https://www.instagram.com/skynews
Follow us on TikTok: https://www.tiktok.com/@skynews

For more content go to http://news.sky.com and download our apps:
Apple: https://itunes.apple.com/gb/ap....p/sky-news/id3163919
Android https://play.google.com/store/apps/details?id=com.bskyb.skynews.android&hl=en_GB

Sky News videos are now available in Spanish here/Los video de Sky News están disponibles en español aquí https://www.youtube.com/channel/skynewsespanol
Sky News videos are also available in German here/Hier können Sie außerdem Sky News-Videos auf Deutsch finden: https://www.youtube.com/channe....l/UCHYg31l2xrF-Bj859

To enquire about licensing Sky News content, you can find more information here: https://news.sky.com/info/library-sales