Another bleak chapter in the cost of living crisis, inflation has reached a 40-year high at 9.4%.

Simon Clarke, Chief Secretary to the Treasury, says the Government and the Bank of England are focused on tackling this issue and we should see a ‘marked improvement’ by next year. But is it enough? 

Those on low and middle incomes are already feeling it and many are struggling to make ends meet. 2023 seems like a long time to hang on until. 

Jack Leslie, Senior Economist at the Resolution Foundation, explains why this is happening, the impact it is having and how we’re only just at the start of this cost of living crisis. 

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