BBCNEWS BBC News at Six June 4, 2024 17:04:00
The lesson of history is that when inflation gets to these levels, it takes years to come back down again, as it did in the 1970s and nearly did in the 1990s, not the months currently predicted. it's not just about the worst inflation figures for decades. this problem is so broad—based, affecting every single household in the country, either in the extraordinary monthly direct debits energy companies are asking customers to pay or in prepayment meters. it's not a pinch, it's not a squeeze, it's a profound hit to household income. and when you take so many billions in spending power out of th...