No Sign of Cost of Living Crisis End Amid Big Consequential Geopolitical Shifts

No sign of cost of living crisis end amid big consequential geopolitical shifts

While it makes sense to look at yearly inflation rises, the pressure on households makes a lot more sense when you look back at the massive rise over the past four years.

No Sign Of Cost Of Living Crisis End Amid Big Consequential Geopolitical Shifts - Great Yorkshire Radio

If you’re looking purely at the annual inflation data, the numbers us journalists, not to mention politicians and economists, tend to focus on, the answer might seem like: probably, yes. Sure, the rate is, at 3.4% in May, higher than the Bank of England’s 2% target. But it’s far below the double-digit peaks experienced in 2022. Plus, the Bank itself thinks prices are likely to drop back down towards 2% in the coming year or two, even assuming a …