Inflation rose to 5.5% in January, continuing its run of the country’s highest inflation rate in 30 years.

The Bank of England has increased its base rate from 0.25% to 0.5% today as it looks to battle rising inflation.

UK inflation (CPI) rose by 5.4% in the 12 months to December, hitting a 30-year high.

The Consumer Prices Index (CPI) hit 5.1% in November, the highest rate in over 10 years.