Soaring inflation across the UK has caused “acute distress” to Britons, Finance Minister Rishi Sunak has said, stressing that the Bank of England must take “decisive action” to get prices back under control.

Britain's economy is teetering on the brink of recession amid soaring inflation, a leading statistical body warns.

Fuel prices have registered a record high in the UK, as the British government is set to phase out imports of Russian oil during the course of the current year.

The BoE has doubled the interest rates in an attempt to tackle the soaring inflation in the country.