A full-blown inflation crisis was not issue on most people’s minds a year ago.
Interest rates were at a record low of 0.1 per cent and, while inflation had started to slowly crept up and risen above 3 per cent in August and September 2021, it did not dominate headlines.
Twelve months on, inflation is red hot and at 10.1 per cent is five times as high as the Bank of England’s 2 per cent target and forecast to climb