This week we saw the UK cost of living rising to its highest in 10 years. According to the Office of National Statistics (ONS), inflation has peaked at 5.1% in the 12 months to November – more than twice the 2% target set by the Bank of England (BoE).
So, are we set for another Christmas of disappointment? And how will the rising cost of living impact us amidst some winter uncertainty? Let’s look at what precisely is driving inflation up and how that will impact our shopping basket during the festive season.
Who is to blame for the rising cost of living?
I’m certain that many of the more hawkish readers will quickly turn their gaze upon the central banks and their monetary policies. But before we are quick to point our finger at the Bank of England and condemn their actions during the coronavirus pandemic, let’s acknowledge that … Read more