Inflation is back, but is it here to stay? – podcast | New | Local News

Many young people will not remember a time when inflation was a big political issue or a topic that could affect their day to day lives. But recent increases in the cost of living, in part caused by the coronavirus pandemic and the supply chain crisis, have started to have a real impact. Last week, the CBI warned that buyers would face the biggest price hikes in more than 30 years this Christmas – and with inflation expected to hit 5% next year, the Bank of England is under pressure to take urgent action to do something. this.

In this episode, the economic editor of the Observer, Philippe Inman, explains to Hannah moore what exactly is happening, explaining how the situation came about, what are the options for dealing with it and why it affects people’s daily lives. And it examines the case for a Bank of England interest rate hike – as well as the risk that such a move will be premature if the change is largely the result of the coronavirus crisis.

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