Inflation down but food costs are up

Jane Morley, a business manager, is adjusting to rising family costs due to inflation. Food prices, especially wheat, have surged, impacting families and businesses like Jeff Green Hall's bakery, which is forced to raise bread prices. The economic outlook remains grim, with inflation expected to stay high and wages stagnant, urging families to tighten their budgets.

What financial challenge is Jane Morley facing with her family?

• Lack of employment opportunities

• Decreasing wages

• Rising costs of family essentials

• High mortgage rates

Which food item experienced the most significant price increase?

• Vegetables

• Cocoa

• Fish

• Wheat

Why did bakery owner Jeff Green Hall decide to raise prices?

• Higher demand for bakery products

• Rising sugar prices

• Increased rent costs

• Steep increase in wheat prices

What is the expected trend for inflation according to the transcript?

• It will stabilize at 2%

• It will fluctuate unpredictably

• It will decrease significantly

• It will remain above the target

What advice does the Bank of England give regarding the economic situation?

• Seek new employment opportunities

• Invest in stocks for better returns

• Tighten your belts and prepare for ongoing challenges

• Increase spending to boost the economy