Bank of England’s Rate Rumble & A Family’s Fight for Food
Inflation Hits a Historic Haze
In a shocker, the Bank of England said the Consumer Price Index could soar to 13.3% in October—the highest spike in 42 years. If you’re budgeting for groceries, it’s basically a slap to the wallet.
Interest Rates: The New Hurdle
- Rate hike from 1.25% to 1.75%—the biggest since January 2009.
- Imagine paying a little more every time you borrow: that’s what customers and businesses will feel.
Energy Price Cap: A New Irregularity
Ofgem decided the energy cap will update every quarter instead of every six months. The message? “Uncertainty is going to thrive, meaning bill hikes could accelerate faster than a rabbit on a caffeine binge.”
- Supply stabilization fight: “We don’t want more suppliers to quit the game.”
- Result: Potentially higher monthly bills for those already feeling the pinch.
Cities, Small Shops, and the Cry for Help
Derek Mitchell, the CEO of Citizens Advice Scotland, is shouting for a wave of “radical action” to stop families between freezing (frostbite) and starving (hunger pangs). He warns that a looming recession could cement long‑term poverty.
Small businesses are already realising the high cost of the pandemic with lingering debts. “The Bank’s interest hike is the icy last straw,” says Colin Wilkinson from the Scottish Licensed Trade Association.
Snapshot of the Crunch
- Inflation expected to stay high through 2023.
- Recession looming—no escape for the cost‑of‑living crisis.
- Villages and workshops fighting debt, potentially shutting down if rates keep climbing.
Take Action
Don’t wait for winter to become a harsher season of survival. Push for policies that protect wages, keep energy stable, and cushion small businesses.
Stay in the Loop
Get real‑time updates wired straight to your device—subscribe now and never miss a beat.
