Inflation continues to ease latest CPI shows

CEO of RIFT Tax Refunds, Bradley Post, commented:

“While the rate of inflation continues to ease away from the 41 year high reported in October, it will do little to lighten the financial burden facing many households at present.

The cost of running our homes remains one of the driving factors behind the cost of living crisis and at a time when we’re particularly reliant on gas and electricity to combat the cold snap gripping the nation.

As it stands, we seem to have reached the peak and have started our descent, but looking down, there’s still a very long way to go.”

CEO and Founder of ID Crypt Global, Lauren Wilson-Smith, commented:

“While inflation remains high there are a few silver linings to take, with the previously high cost of fuel continuing to subside, which should prevent any periods of prolonged petrol pump queuing in 2023.

We’ve also seen a reduction in the cost of clothing and recreation, but it’s fair to say that the average household will see little benefit, as the core costs of living continue to swallow any disposable income they may have had to spend on what can currently be considered luxury purchases.”