Inflation is running red-hot — largely fueled by the ongoing supply chain crisis and the Russia-Ukraine conflict, which are in turn increasing food prices and energy prices. In the U.K., inflation recently hit double digits for the first time in 40 years, and is expected to climb to around 15% in 2023. Similarly in the U.S., inflation peaked at 9.1% in 2022, marking another 40-year high. This is squeezing household budgets, affecting consumer confidence and driving up the cost of living.
