The ONS said inflation rose to 7% in March, up from 6.2% in February. Inflation was once more the highest point since March 1992, when inflation stood at 7.1 per cent.

The biggest increase came in the cost of filling up at the pump. Average petrol and diesel prices soared to record highs of 160.2p and 170.5p a litre, rising by more than 30% over the past year – the biggest annual increase since 1989.