U.K. Inflation Jumps to Highest Rate in 30 Years

The transcript discusses the UK's inflation reaching a multi-decade high, driven by factors beyond energy prices, such as food and furniture. It explores the Bank of England's potential response, including a rate hike, and examines labor market data showing falling real wages despite job vacancies. The cost of living crisis is highlighted, with energy bills expected to rise significantly, impacting poorer households the most. The need for government intervention is emphasized, with ongoing discussions between the government and energy companies.

What factors are driving the current inflation in the UK?

How does the recent labor market data influence the Bank of England's decision-making?

What is the expected impact of rising energy costs on households in the UK?

What challenges do the poorest households face regarding the cost of living?

What potential actions might the government take in response to the rising cost of living?