Is the UK in the grip of ‘greedflation’?
Millions of households in the UK are feeling a prolonged pinch as inflation eats away at their standard of living. Rising bills for weekly shopping, energy use and housing costs have meant many people are cutting back on luxuries and essentials. As the Guardian’s economics correspondent, Richard Partington, tells Michael Safi, the story spun by the government has been a simple one: the blame lies with Vladimir Putin and a global pandemic. But not everyone is suffering from these higher costs.