While a number of analysts and economists will have opinions on when or if the Cost of Living will fall, it’s hard to pinpoint when this is likely to happen.
This is because there are a number of factors which have caused inflation to rise, including:
● The impact of COVID 19 on global economies and supply chains.
● Global conflict reducing the availability of fuel.
● At the same time, a worldwide demand for fuel and energy.
There is, however, hope for the future. Inflation rates have slowed and are beginning to decrease since the beginning of 2023, and look like they will continue to decrease throughout the year.
Likewise, supply chains worldwide are beginning to stabilise again and should continue to improve into 2024.
In the meantime, we are on hand to support you and help you stay on top of the changing economic trends