Energy costs behind drop in annual rate in July, as wage increases finally overtake price rises

Of course, inflation going down doesn’t mean prices are coming down; life is still getting more expensive, just at a slightly lower rate…

  • burningmatches@feddit.ukEnglish
    6·
    1 year ago

    Inflation is a backward-looking measure. It doesn’t ease the cost of living, it simply lets policymakers know what’s going on with prices — and whether the Bank of England is doing its job.

    On a personal level, you already know what your living costs are, so the level of the CPI has no relevance to your life. Nobody experiences CPI directly, as we all have different costs and preferences.