Inflation falls back a little from 41-year high as motor fuels price rises slow, but costs rise faster in restaurants, hotels, cafes and pubs.
UK inflation eases to 10.7% as annual rate of price increases slows
Several economists are warning that the UK’s cost of living crisis will continue into next year, even though the pace of price rises across the country slowed a little in November.
The Resolution Foundation point out that poorer households are suffering an even higher inflation rate than average.
“Inflation fell at its fastest rate in 16 months in November, driven by falling fuel price inflation and a welcome slowing in food price inflation. Britain may now be past its inflation peak, which is good news for policy makers at both the Bank and Treasury as they grapple with rising interest rates and public debt.
“But with price rises still massively outstripping pay rises – and Britain’s poorest families facing an inflation rate of over 12 per cent – families are still getting poorer month-on-month, and the cost-of-living crisis will continue to deepen in 2023.”
We are going to experience a sustained fall in living standards over the next two years the like of which we haven’t seen in 100 years.
We are in a precarious position.”
“While the annualised rate of inflation slowed in November, consumers are unlikely to feel any relief in the cost of living crisis. Prices overall continue to rise, with food prices in particular rising at their fastest rate in 45 years. What relief there is for consumers comes mostly in transport – but petrol prices have remained parked month-on-month rather than going into reverse.
This raises some difficult questions for policy makers. On the one hand headline inflation is easing, but whether that’s due to a weakening in local demand or simply global commodity prices is less clear. Areas like hospitality, which are more affected by domestic inflation, continue to see prices rise substantially, suggesting “core inflation” remains untamed. That’s a headache for central bankers – raising rates might help bring domestic inflation under control, but it will also exacerbate the cost of living crisis and potentially condemn the UK to a painful recession.
I really appreciate the different perspectives you presented in this article. It’s refreshing to see different viewpoints.
Your article was informative and well-researched. It’s clear you put a lot of effort into it.
Your article was thought-provoking and informative. It gave me a lot to think about.
KENZOTOTO Situs Slot Online dan Judi Slot Terlengkap dan Terbaik
Your use of easy-to-understand language to present information is admirable.
SPY4D Togel Online Dengan Keluaran Terbaik 2023 Dan Bonus Banyak
Level4d situs judi togel Hongkong terbaik 2023
POL4D Situs Slot Gacor Hari Ini
This is really interesting, You’re a very skilled blogger. I’ve joined your feed and look forward to seeking more of your magnificent post. Also, I’ve shared your site in my social networks!
This is a great article that provides a fresh perspective
Thank you for this informative and helpful article! I really appreciate the way you presented the information in a clear and concise manner.
Your article gave me a lot to think about and sparked some great discussions with my friends and family. Thank you for providing such thought-provoking content.
I agree with many of the points you make in this article and appreciate a different viewpoint.
Your article is a great reminder that change is possible. Thank you for showing us that even in the face of adversity, we can still make a difference.
Thank you for providing a unique and interesting perspective in this article.
Your writing style is impressive. Your article is not only informative but also enjoyable to read.
Your article is a great starting point for anyone looking to learn more about this topic. I’ve already shared it with several friends and family members.
Your article is a great reminder of the power of community and working together to create change. Thank you for highlighting the importance of collaboration.