Back to 1982 or 1974?

Inflation has soared again in April and the UK now has the highest rate of inflation in the G7. European as well as UK households are enduring a cost-of-living crisis; and for the UK the situation is set to worsen in October when energy price cap is expected to be raised again. In the meantime, the global food system is under threat due to the war. Wheat prices surged further, after India – the world’s second largest producer – said it would suspend exports. Hadly surprising then that the mood is darkening.