Cost of living rises at fastest rate in two years

THE cost of living is increasing at its fastest rate in more than two years, with food, clothes, mortgages and rent on the rise.

Rising fuel prices linked to the Libyan uprising, severe hikes in health insurance premiums and an end to sales last month also hit households in the pocket.

The annual rate of inflation is at 2.2% after seven months of steady rises — a level not seen since November 2008.