
BBC OS Conversations: Living with rising prices
The Documentary Podcast
00:00
How to Spend Your Money in a Wise Way and Still Have a Great Time
In the UK, inflation on food is running at 18 percent in practical terms. That means a basket of groceries that cost £10 a year ago would cost an extra £1.80 this year. Factors driving up inflation include increased demand for oil and gas as life got back to normal after Covid. Russia's invasion of Ukraine put further pressure on energy prices in some places - pushing up global food prices. The Bank of International Settlements recently warned that the global economy is at risk of falling into a permanent high inflationary trap.
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