UK consumer prices rise at fastest pace in almost 30 years

Consumer prices in the United Kingdom have risen at the fastest pace in almost 30 years as higher costs for energy, transportation, food and furniture squeezed household incomes. Inflation measured by the consumer price index accelerated to 5.4% in the 12 months through December, the Office for National Statistics said Wednesday. Economists warned that inflation is likely to rise further in coming months as the full impact of a recent surge in energy prices hits consumers.