The rate of UK Inflation has hit its highest level in over four decades with a value of 9 percent. This is a jump of 2 percentage points since March of this year.
Some causes
The Office of National Statistics has identified that the main driver for this increase was the government raising the energy price cap for gas and electricity in April by an average of 54 percent.
That is not the only driver. The value of sterling on international markets has decreased and the cost of petrol and diesel has risen, placing a higher burden on the consumer.
Additional causes have included disruption to the global supply chain as a result of the war in Ukraine.
Citizens Advice told the BBC “The warning lights could not be flashing brighter” in terms of the need for support for households. The Institute for Fiscal Studies tweeted that the true inflation rate for low income households was closer to 10.9%
Some consequences
East Anglia has affluent areas of population, yet also the most deprived area of England at Jaywick. The impact of the inflation rises will not be felt equally across the region.
There has been anger at the problem, and dramatically differing causes and solutions proposed. The crisis is still developing and government denies responsibility. Tory MP Lee Anderson attributed the rise in the use of food banks to lack of cooking and budgeting skills. Essex food poverty campaigner Jack Monroe pointed out in reply that the issue was not skills – you couldn’t make meals if you had nothing. Discussion quickly turned into a bitter personal row, and legal action is in view. Another measure of the misery.
