Analysts warn cost of living crisis is gathering pace amid fast rises in petrol, food and energy bills
- Watch out for hidden ‘shrinkflation’ price hikes, analysts warn
- Rising inflation ‘could trigger global sell-off that would harm UK’
Households face a “plain grim” outlook as higher energy bills and petrol prices force them to find at least £442 extra to get through the winter, according to an analysis.
While Boris Johnson used his conference speech to trumpet the UK’s future as a high-wage, high-skilled economy, Kevin Brown, a savings expert at the investment firm Scottish Friendly, accused the prime minister of failing to account for an “alarmingly fast-paced cost of living crisis”.