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Can Inflation Really Get Any Worse?

News that inflation in the UK jumped sharply last month has prompted a wave of fear and concern amongst many of the population but some are finding it difficult to understand how it can rise any further and the long term implications. Can it really get any worse?

The immediate threat is that inflation will rise to in excess of 5% later this year before falling back next year. However, the damage that the rise will do in the short term could be immense with the value of the pound in your pocket set to fall in real terms (reducing your spending power), prices in the shops are set to rise again, energy costs are still on the increase and more companies are being forced to take some of the cost price rises as a financial hit to their profits with consumers unable (or unwilling) to take the whole hit themselves.

The situation really is dire and that is before we even mention the increased burden on the pension industry where pension fund deficits are on the increase - due mainly to the increased future cost of pensions because of the rise in inflation.

Inflation really is the silent assassin and those who disrespect it do so at their peril!

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