💷 Rising Costs Hit Brits This Summer! 🌞
Hold onto your wallets, folks! Inflation in the UK jumped to 3.8% in July, surprising economists who expected 3.7%. What’s driving this? It’s those summer school holidays!✈️
With everyone trying to escape the daily grind, air fares surged dramatically – marking the largest July jump in over two decades. Petrol and diesel prices also saw a rise, unlike last year when they dropped. 🛫⛽
Alongside travel, food costs are hitting hard. Don’t be shocked if your favourite coffee, fresh juice or even chocolate prices start to bite. 🍫☕
Grant Fitzner from the Office for National Statistics has pinpointed school holidays as the culprit, pushing demand and, consequently, prices.
As inflation remains high, keep your eyes on your expenses. Let’s chat below… Have you felt the pinch this year?👇 #UKEconomy #InflationUpdate #CostOfLiving