Inflation means pay is now falling

The video discusses the real-world impact of inflation and wage growth on prices and spending power. It highlights how shop owners manage rising costs and the disparity between wage growth and inflation, affecting purchasing power. The video also explores the impact on families, especially those on benefits, and provides a future outlook on wages and inflation.

What is the current year-on-year inflation rate mentioned in the text?

How much have wages risen over the past year according to the text?

What is the impact of inflation on the purchasing power of individuals as described in the text?

What financial challenges do families on benefits face according to the text?

What are the expectations for wages over the next 12 months as mentioned in the text?