UK cost of living crisis: Why is inflation on the rise?

Prices in the UK have already risen by 9% in 2022 making this the highest rate of inflation since 1982.

Inflation rates could reach 10% by the end of the year according to Bank of England governor Andrew Bailey who also warned MPs there could be a rise in global food prices.

But how did we get here? According to the Office for National Statistics energy bills are the main reason behind the rise in inflation caused also by the impact of the Ukraine war on oil and gas prices.

Average gas and electricity prices jumped by 53.5% and 95.5% in April this year while fuel prices are hitting 161.8p per litre.

[batzman]

And they still manage to send billion dollars ro Ukraine?

[hazelb]

They are not helping people...they don't give a shit with their 'i'm all right Jack' mentality...they have never had to struggle...!!

[jameslave]

Massive needless govt spending on utter bs

[Northern_Rockhopper]

If fuel was dropped back down to a quid a litre problem would be solved. Simple as. End of story.

[photoman]

What cost of living crisis....Under Liebore in 1975 24.24%, 1976 16.54%, 1977 15.85% in consecutive a cost of living crisis....lest we forget....!!!

[actingactor]

Its all caused by greed at the top. happens every cycle keep the hardworking people down.

[MotoTvWoodsFarm]

how do the rich shake down the poor if the poor don't want spend their money? Inflation.

[eddielloyd]

and still the people think brexit is the bees knees, ,even though they were told it world cost them in the pocket, , add that to all the other shortages, enough said, ,,amen britain

[shoutingmuteness]

Why herds exist?
To feed the masters?
Or divine architecture?
🤔🤔
Mr covid where are you? Mr covid, hello??