RATE MESS

ANGER AS INFLATION CRIPPLES FAMILIES

- GRAHAM HISCOTT

» 19% food price rise is worst in UK since 1977

» Interest hike will only pile on agony for millions

FAMILIES already hammered by the cost of living crisis face even more agony with the double whammy of soaring food prices and a crippling hike in interest rates.

The Office for National Statistics said that last month we paid 19% more on a weekly shop, the highest since 1977. Some items went up seven times faster than average wages of 6.9%.

No10 came under more pressure after figures yesterday showed inflation, while easing, is still at 10.1%, amid hopes it would drop below 10%.

Supermarkets have been urged to pass on a drop in wholesale food costs to customers.

And experts begged the Bank of England not to raise interest rates, with economists predicting it will impose a hike from 4.25% to 4.5% on May 11. It may even go to 5% before the year is out, in a further blow to mortgages.