Worried about inflation? You aren’t alone. A survey by Aegon this week showed that 64 per cent of people are concerned about “the impact of rising inflation on their finances”.
Businesses are (very) worried too: the latest quarterly report from the British Chambers of Commerce showed 59 per cent of companies expect prices to increase over the next three months; 66 per cent said that inflation was a “concern.” Both of those numbers are record highs.
What’s the driver? Some 30 per cent of firms said pay settlements were part of it (we might think of this as good inflation!) but 94 per cent blamed raw materials (bad inflation).
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