Inflation comment from LiveMore
19 October 2022
Simon Webb, managing director of capital markets and finance at LiveMore, commented: “The slight drop in inflation last month has been reversed with September's double digit print and inflation remaining at a 40-year high.
“One of the main reasons for high inflation is the surge in energy prices since the Russian invasion of Ukraine in February this year. Government efforts to help curb energy bills with an Energy Price Cap of £2,500 for the next two years no longer stands as the new Chancellor Jeremy Hunt is only guaranteeing the cap until next April. If government support for energy bills disappears, it is likely to result in higher inflation as well as negatively impacting on many people’s finances and living standards through 2023.”
