Construction workers take a lunch break on Oxford Street in London, United Kingdom. (Mike Kemp / In Pictures via Getty Images) The Bank of England expects inflation to hit a whopping 8 percent over spring 2022 and warns that it could rise to even higher levels later in the year. We haven’t seen price increases like this in decades, but inflation seems like such an abstract concept that it’s often hard to convey what this might mean for people’s living standards.
Rising energy costs act a bit like a tax on the poor. Generally, if the price of one good […]
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