Inflation has hit its highest level since 1982, new figures have shown. CPI and RPI, two measures of inflation, are now at nine per cent and 11.1 per cent, respectively.
That means the prices we pay for everyday goods and services has risen by between nine and 11.1 per cent over the past year. This is being driven by global supply chain issues and increased demand for goods as the world emerges from the covid-19 pandemic, and partly by the war in Ukraine - and the associated sanctions placed on Russia - restricting supply of energy and food.
One Bristol shop-owner said inflation is "destroying" her business. Kate Ashwell, the owner of the vintage clothes retailer Ashwell and Co, said: "Inflation is destroying our business. There has been a drastic drop in our sales and bookings over the past month or so.
