Latest inflation figures show that there has been a slight decrease from the 40-year-record high reached earlier this year but the price of food and non-alcoholic drinks continues to surge 💷
He said: ‘Critical everyday items like food and home heating continue to get more expensive, sucking disposable cash out of consumer wallets.
He added that inflation driven by food, electricity and gas ‘will likely hit the poorest hardest – since they spend a far greater proportion of their income on essential goods than the wealthy’. Small business and households may not be comforted by the small fall in inflation, as the figure is still close to its 40-year record.
‘We are a family of five and these are really worrying times. We are preparing ourselves for a recession, as the UK economy is currently facing a perfect storm.’
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