Cost of living: Inflation hits 40-year high as food prices rise

Channel 4 News published this video item, entitled “Cost of living: Inflation hits 40-year high as food prices rise” – below is their description.

Inflation is the bad news that keeps on coming. Today’s figures show that it has crept up again to just over 9 per cent, the worst in four decades.

But behind that headline number others even more alarming ones lurk – like a 32 per cent increase in the price of petrol and double digits for staple foods like bread and meat.

Inflation is a global ogre but it is worse here than in the rest of the G7 and is expected to last longer. It has also hits the poorest hardest. So what now?

Channel 4 News YouTube Channel

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About This Source - Channel 4 News

Channel 4 News is the news programme from UK Channel 4 television. Channel 4 is a British public-service free-to-air television network headquartered in Leeds, United Kingdom. The channel was established in 1982 to provide a fourth television service to the United Kingdom in addition to the licence-funded BBC One and BBC Two, and the single commercial broadcasting network ITV.

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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.

1 Recent Items: Inflation

Inflation and the price of food and household products has crowded out spending: Analyst

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