Falling household spending power is painful part of the cure from inflation disease

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Sky's business correspondent Paul Kelso explains that the hit to demand in the economy from the pace of price rises should help bolster the battle against inflation in the coming months.

Without the support it would have been even worse.

Consumers have had no such protection from the impact on food prices, up 16.4% year-on-year in October. The Office for National Statistics that 'real' inflation for the poorest 30% of households is more than 12%, compared to a little over 10% for the richest third. After eight consecutive upward steps, this inflation figure makes another more likely before Christmas, and perhaps again in February.

 

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it’s called budgeting

I note that it's mainly Third Country Britons now applying for EU Irish Passports then - Hooray!

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