UK inflation hits 30-year high of 6.2% as Sunak readies response
The ONS said consumer prices rose by 0.8 percent in month-on-month terms
Updated 23 March 2022
Reuters
LONDON: British inflation shot up faster than expected last month to hit a new 30-year high, worsening a historic squeeze on household finances that finance minister Rishi Sunak is under pressure to ease in a budget update later on Wednesday.
The Office for National Statistics said consumer prices rose by 6.2 percent in February after a 5.5 percent rise in January, its highest rate since March 1992.
The median forecast in a Reuters poll of economists had pointed to a reading of 5.9 percent and only three of the 39 respondents had expected such a strong reading.
The ONS highlighted household energy bills — up almost 25 percent on a year ago — and petrol as the biggest drivers of February's price jump.
In a blow to poorer households, the ONS said food prices were rising across the board, unlike in normal times when some prices typically go up and others fall.
Sunak will aim to show at 1230 GMT that he is helping Britons through the worst cost-of-living squeeze in decades.
Yael Selfin, chief economist at KPMG UK, said the figures added pressure on the Bank of England to keep on raising interest rates, but she said it was still likely that price growth would peak before long.
"Provided inflation expectations can be managed and global commodity prices stabilise by next year, we should see inflation returning to the Bank of England's 2 percent target by mid-2024," Selfin said.
"This may require fewer rate rises than markets currently anticipate."
The ONS said consumer prices rose by 0.8 percent in month-on-month terms, marking the biggest February rise since 2009.
Last week, the BoE raised its forecast for inflation to peak above 8 percent — more than four times its target — during the April-June period.
Regulated household energy bills are due to jump by more than half next month.
Inflation pressure ahead continued to build as manufacturers increased their prices by 10.1 percent, the biggest annual rise since September 2008 although it was in line with the median Reuters poll forecast.
Researchers target $275m market with waste-to-value algae innovation
Updated 09 January 2026
Haifa Alshammari
RIYADH: Turning food waste into a valuable industrial product may sound improbable, but scientists at King Abdullah University of Science and Technology are proving it is possible — using algae that has existed for millions of years.
Last month, researchers at the university unveiled a sustainable method that harnesses an ancient red microalga to reduce food waste in the Kingdom while producing a high-demand natural pigment.
The study was led by bioengineering student Mauricio Masson, with support from Michael Fox, assistant professor of marine science, alongside researchers from KAUST and the Arizona Center for Algae Technology and Innovation. The international team included Kyle Lauersen, KAUST associate professor and lead author of the study.
Scientists at King Abdullah University of Science and Technology (KAUST) developed a sustainable method to use an ancient type of algae while reducing food waste in the kingdom. (Supplied)
The research highlights a “sustainable bioprocessing” approach, demonstrating how an aquatic plant can convert chocolate factory waste into C-phycocyanin — a blue pigment with a global market expected to reach $275 million over the next four years.
“Our research focused on an extremophilic red alga that can thrive in harsh conditions and efficiently consume sugars and nutrients found in food waste streams,” said Lauersen.
Lauersen is an associate professor and chair of the bioscience and bioengineering programs in the Biological and Environmental Sciences and Engineering Division at KAUST. He explained that a key objective of the study was to show that food waste — often discarded or sent to landfills — can be repurposed as a feedstock for producing high-value compounds, including natural pigments and proteins, through algae-based bioprocesses.
“Our main goal was to develop an environmentally friendly approach to turn waste into useful products that have the potential to be scaled,” Lauersen told Arab News.
FASTFACT
Did you know?
• By 2030, the global market for C-phycocyanin is projected to exceed $275 million, reflecting growing demand across food, health, and industrial sectors.
• C-phycocyanin has demonstrated potential benefits in antioxidation, inflammation, cancer research, antimicrobial activity, neurodegeneration, diabetes management, and wound healing.
• As a natural pigment, C-phycocyanin offers a healthier alternative to synthetic food colorants and is approved by the US FDA for use in food products.
He added: “Algae are especially well suited for this because they grow quickly, require relatively few resources, and can metabolize a wide range of organic compounds.”
The red microalga Galdieria yellowstonensis feeds on chocolate waste rich in residual sugars, producing a protein-dense biomass that contains C-phycocyanin, according to KAUST. The pigment is widely used as a natural food coloring — found in products such as ice cream and blue-colored beverages — as well as in cosmetics and pharmaceuticals.
Beyond the study’s original goals, researchers also discovered that elevated levels of carbon dioxide significantly enhance algae growth, even though CO₂ is typically considered a byproduct of microbial sugar consumption.
Another major outcome of the research is its potential to reduce land pollution by transforming food waste into a nutrient source for algae, offering a sustainable alternative to disposal.
Galdieria yellowstonensis feeds on chocolate waste containing residual sugar, producing a protein-packed biomass that includes C-phycocyanin. (Supplied)
KAUST believes the findings could positively impact Saudi Arabia’s economy by helping food manufacturers lower production costs while addressing environmental concerns.
“The species we studied can grow on waste streams that are unsuitable for conventional crops or microorganisms,” said Lauersen.
“This makes algae an attractive platform for circular economy solutions, where waste is transformed directly into valuable materials rather than being treated as a disposal problem.”
The research effort is ongoing. Scientists at KAUST are currently collecting chocolate waste locally and plan to scale up the process using other industrial waste streams available across the Kingdom. The initiative aims to support companies in transitioning toward a circular carbon economy while contributing to Saudi Arabia’s green agenda.
“Food waste is a major global challenge, contributing to greenhouse gas emissions, resource inefficiency, and environmental degradation,” said Lauersen.
“By recycling waste into useful products, we can reduce pressure on landfills, lower emissions, and make better use of existing resources.”
“These types of solutions are essential as industries worldwide face growing demands to become more sustainable and climate resilient, especially in the Middle East, which relies on heavily on imports.”
