The British standard of living falls. Bloomberg draws attention to the record rise in prices of housing and communal services, as a result of which millions of people are on the verge of poverty. Gas prices have risen dramatically. Heating and such simple thing as cooking become more costly for the British.
In addition to rising energy prices, working Britons have suddenly found that their wage in real terms have decreased. The increase in the national health tax caused by the Covid-19 pandemic has hit families across income levels. Eight out of ten adults in the UK have reported a worsening standard of living.
One of the most important factors behind the growing consumer inflation, threatening to exceed double digits, is the monetary policy of the Bank of England. As you know, the central banks of industrialized countries during the crisis sharply reduce interest rates, increasing the money supply in the economy and providing access to credit resources for businesses.
