How inflation affect your daily life and cost of living

How inflation affect your daily life and cost of living

Up until very recently, inflation had not been talked about, and for good reason. In late 2019, the overall annual rate of inflation was running at just about 1.8% according to the Consumer Price Index (CPI).1 Similarly, the U.S. Department of Agriculture reported that retail food prices were 1.8% higher in February 2020 than they had been the year before.2 In the summer of 2021, however, inflation began to rear its ugly head once again, with U.S. consumer prices recording their largest annualized increases in more than 13 years.3 Whether higher prices will stick around, or if it is just transitory as a result […]

The UK inflation rate fell to 2% in the year to July

The UK inflation rate fell to 2% in the year to July

The Consumer Prices Index (CPI) measure of inflation dipped from 2.5% in the year to June, the highest level for nearly three years, the Office for National Statistics (ONS) said. The rate fell to the Bank of England’s 2% inflation target, after being higher for two months in a row. The dip in inflation was driven by price falls in clothing and footwear. Prices of games, toys and hobbies were also down and package holidays fell slightly compared with a year ago. However, those decreases were “largely offset” by price rises in transport, the ONS said. Average petrol prices stood […]