UK prices rising faster than wages as forecasters predict inflation at 2.8%

Transport costs drive rising inflation as petrol and diesel prices increase but wages fail to keep apace

Britain’s cost of living squeeze shows no sign of easingwith new figures showing that prices are still rising faster than wages.

Inflation is when prices rise. Deflation is the opposite – price decreases over time – but inflation is far more common.

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Read the original at Economics | The Guardian.