Explainer-Why is inflation so high in the UK?

Inflation in the UK has reached alarming levels, causing significant concern among consumers and policymakers alike. This surge in prices affects everything from groceries to energy bills, straining household budgets and impacting overall economic stability. Understanding the factors driving this inflation is crucial, as it influences monetary policy decisions and the cost of living for millions. As the government grapples with these challenges, the implications for future economic growth and consumer confidence are profound.