Living costs hit fresh 30-year high as households squeezed

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Inflation rose by 5.5% in the 12 months to January, hitting a fresh 30-year high. …

It’s largely because growth in productivity (and therefore pay and living standards) has been so historically weak for the last 13 years, that the decision-makers on its Monetary policy Committee have only just got up the gumption, in the inflationary storm of the last two months, to start raising them again.

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