Inflation may be coming down but its unequal effects can still have a big impact on wellbeing Inflation is coming down across developed economies, although not as much as governments and central banks would like. The latest figures tracking UK inflation show prices rose by 7.3% in the year to June 2023, down from 7.9% in May, but still well above the government’s official target of 2%. It’s slowing even more in other major economies including the US and Europe but, again, remains higher than desired. Imagine the following scenario. You commute to work by car and you realise that your petrol bill is 10% higher than last year. Your workplace hasn’t changed location, your car hasn’t changed, your consumption hasn’t changed, but prices have. Annoying, isn’t it?
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