From £1.30 to £1.83- A Summary of Inflation

Siddhartha Ghosh

Both relatively small numbers, a little increase of 53 pence. But the percentage is high. From £1.30 to £1.83 we see a roughly 40 % change. The preceding price was the average price of a white loaf of bread in 2021. Now in 2023 we see this staple part of most people’s diets cost them a lot more than it did. The usual of consumption of bread per week is slightly higher than 400 gram (one loave). Assuming people only buy one loaf of bread per week they are now spending 53 pence more per week. In a year now they are spending £27.53 more than they did on bread. Still moderately low. But prices aren’t just rising for bread. With inflation almost all business to consumer or direct to consumers transfers have increased by around 15%. Yearly living expenses for somebody in the United Kingdom was around £30,756. Now with inflation the sum has increased by £4614.30. Only one thing is not rising : Our salaries. The impacts of this will and is being felt. We as a country must act on this. We must find a way to keep non-essential goods being bought while lowering prices.