To put the phrase, the cost of living simply, it implies whether the value of goods and services has increased and decreased. Usually, and historically speaking, the cost of living has increased but this year in the UK, inflation peaked to 7.2 percent which is triple the recommend target set by the Bank of England. Most businesses are putting prices up by at least 10%, and energy companies have put the cost of electricity and gas by 40 plus percent. Meanwhile, the minimum wage rise from £8.97 to £9.50 is only a 5.9 percent increase.
Let’s not forget the rise in taxes to, to cover the cost of the expenditure from Ukraine Aid and the Corona Virus grants.
So, to conclude, the cost of living in the UK, isn’t the best right now. Many people are having to choose between heating their home and eating.
How is the situation in your country?
Let’s not forget the rise in taxes to, to cover the cost of the expenditure from Ukraine Aid and the Corona Virus grants.
So, to conclude, the cost of living in the UK, isn’t the best right now. Many people are having to choose between heating their home and eating.
How is the situation in your country?