UK inflation falls sharply to 6.8% as cost of living pressures ease
UK inflation falls sharply to 6.8% as cost of living pressures ease

UK inflation falls sharply to 6.8% as cost of living pressures ease

UK inflation falls sharply to 6.8% as cost of living pressures ease
UK inflation falls sharply to 6.8% as cost of living pressures ease
Inflation rates are quoted as rolling annual percentages.
Since 2019, the cost of goods and services has gone up 21.94%.
You can find out more about much the value of your money has decreased over time using the Bank of England's Inflation Calculator at https://www.bankofengland.co.uk/monetary-policy/inflation/inflation-calculator
This is the important one. Inflation figures are year-on-year.
If the high rate continues for more than 1y, the hike can be more painful than the YOY number suggests.