Cost-of-living crisis: Alex Phillips weighs in on UK inflation hitting a 40-year high

GBNews published this video item, entitled “Cost-of-living crisis: Alex Phillips weighs in on UK inflation hitting a 40-year high” – below is their description.

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About This Source - GBNews

GB News is a free-to-air television and radio news channel in the United Kingdom. The channel is available on Freeview, Freesat, Sky, YouView, Virgin Media and via the internet. Since 4 January 2022, an audio simulcast of the station has been available on DAB+ radio.

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In This Story: Inflation

In economics, inflation refers to a general progressive increase in prices of goods and services in an economy. When the general price level rises, each unit of currency buys fewer goods and services; consequently, inflation corresponds to a reduction in the purchasing power of money.

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