Is the ‘cost of living crisis’ over?

Official figures are starting to show that wages are rising faster than inflation, which means that they are going up in ‘real’ terms for the first time in four years. Forecasters and economists are becoming increasingly optimistic, says The Daily Telegraph.

For instance, “the EY ITEM Club says the UK is set to experience a long period of low inflation growth as the economic recovery gains traction”. Roger Bootle, the head of usually bearish research house Capital Economics, thinks that “the so-called cost of living crisis could soon be over”.

A return to economic prosperity “means Labour’s entire election strategy” [...]

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