Heightened petrol prices led the inflationary pressures with prices that have jumped 5.5 percent in April United States inflation jumped at its fastest pace in three years as the ongoing US-Israel war on Iran fuelled higher energy prices. Rolling coverage of the latest economic and financial news, as number of UK ‘Neets’ hits 12-year highUK risks £125bn hit a year from youth unemployment, landmark report saysWe would like to hear from young people in the UK about their job hunting experienceElsewhere this morning, Labour has adopted regulations intended to prevent local councils from going bust after they make risky investments that jeopardise their finances.Ministers will be handed powers to intervene that have been dormant sinc... Key points and original sources are listed below.

• Heightened petrol prices led the inflationary pressures with prices that have jumped 5.5 percent in April United States inflation jumped at its fastest pace in three years as the ongoing US-Israel war on Iran fuelled higher energy prices. Personal consumption...S1

• Rolling coverage of the latest economic and financial news, as number of UK ‘Neets’ hits 12-year highUK risks £125bn hit a year from youth unemployment, landmark report saysWe would like to hear from young people in the UK about their job hunting experienceEls...S2