What is the UK inflation rate and why is the cost of living rising?

[Scott]

Marcin Nowak

 

Prices are rising faster than they have done for 40 years.

The Bank of England says the recent increases in energy bills, which are set to be three times more than they were a year ago, will drive inflation - the rate at which prices rise - even higher, to 13%.

The increase in the cost of living is putting a squeeze on people's finances, as wages fail to keep up.

Inflation is the increase in the price of something over time.

https://www.bbc.com/news/business-12196322

 

[Chomper Higgot]

It’s more than grim already, how people already struggling will cope when energy costs go up again and winter fuel bills need paying.

 

[baboon]

1 hour ago, Chomper Higgot said:

It’s more than grim already, how people already struggling will cope when energy costs go up again and winter fuel bills need paying.

 

And the Monster Raving Tories claim that the stewardship of the economy is safe in their hands. Worse still, people fall for it....

[Chomper Higgot]

I’d say the country’s gone down the pan, except for the fact there’s no water to flush it with.

 

 

 

[Scott]

Off-topic, troll post reported and removed.

 

[kickstart]

Announced  this morning, UK inflation is now 10%,highest for 40 years, with energy cost's due to go up ,even more in the new year ,when you need it ,not a nice place to be in.

So the last person leaving the UK turning the lights off , they can use that dinghy,down at Dover on the beach left by the newcomers to leave by.

No chance of a flight out, BA are limiting passengers to 100k/day at Heathrow due to staff shortages ,and the time it takes for new employers to get security clearance. 

If Truss gets in ,and it looks likely,with her proposed tax cuts ,funded by energy company's windfall tax,still not enough in the pot to pay for every thing ,things will only get worse.  

[Excel]

11 hours ago, kickstart said:

Announced  this morning, UK inflation is now 10%,highest for 40 years, with energy cost's due to go up ,even more in the new year ,when you need it ,not a nice place to be in.

So the last person leaving the UK turning the lights off , they can use that dinghy,down at Dover on the beach left by the newcomers to leave by.

No chance of a flight out, BA are limiting passengers to 100k/day at Heathrow due to staff shortages ,and the time it takes for new employers to get security clearance. 

If Truss gets in ,and it looks likely,with her proposed tax cuts ,funded by energy company's windfall tax,still not enough in the pot to pay for every thing ,things will only get worse.  

Unfortunately with the current government's hopeless record it will only get worse I'm afraid and many more will be thrown into poverty whilst of course the Tories wealthy members and their pals will not give a damn. Inflation currently at 10.1% is predicted by the BOE could reach 13% or more next year whilst  Truss is quoted as saying "it may not reach that". That is a devastating statement to hear when people are on very low or fixed incomes who can also read what the experts actually predict, gives them little hope that if Truss is to become the PM that the country has any chance of economic recovery so hence the poor will remain so. Said months ago, prior to Boris being stabbed in the back, that the UK will become a basket case similar to Greece. If Truss becomes the PM that process will only be accelerated unfortunately.

Edited August 19, 2022 by Excel