How soaring inflation can be particularly harmful for young people

By Shampa Roy-Mukherjee, Associate Professor in Economics, University of East London
Ejike Udeogu, Assistant Professor of Economics, Coventry University
Michael Harrison, Lecturer in Finance and FinTech, University of East London

Inflation rates have become almost impossible to ignore. In the UK, inflation has soared in recent months, now reaching 9% – the highest rate for 40 years. The Bank of England expects it to rise to 10% this year and for the economy to slow down.

Increasing prices have led to a severe cost of living crisis, as wage increases have not kept pace. To add to the…

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