Cost of living continuing to rise in UK

The video discusses the impact of inflation on the knitwear business, highlighting how the devaluation of the pound has increased business costs. It explains the pressure on wages due to rising living expenses and the potential economic challenges if wages do not keep pace with inflation. The video also examines consumer spending trends, noting a slowdown in non-essential purchases. It concludes with a discussion on future economic predictions, emphasizing the uncertainty surrounding Brexit and its potential impact on inflation and the economy.

How has the value of the pound affected the cost of doing business?

What are the implications of inflation on wages and consumer spending?

What factors are contributing to the rise in inflation as mentioned in the text?

What trends are observed in retail sales according to the text?

What challenges does the Bank of England face in predicting inflation?