The cost of living is soaring and it comes to no surprise, as many are struggling to pay their inflation-busting food, fuel and water bills. Consumer price inflation is now more than double the government’s 2% target after soaring to 4.4% in July, the most since the Office for National Statistics began compiling figures 11 years ago. Today’s results illustrate the impact that huge increases in the price of food and energy are having on the public’s perception of inflation. We in Britain for the last ten years have had prosperity, whether rich or poor we all enjoyed and basked in the low inflation of Britain. I have never lived through a recession, what I know of recessions are of the Hollywood movies. Could things become that bad? How would developing countries feel the pinch? Would things be as bad as Zimbabwe with inflation at 3000% although far fetched that may sound, nothing can be certain. In times like those who trusted mammon as their god would see his limitations. “Come to me you who are heavy laden…and I will give you rest”
Posted by Brendon Naicker 