Price rises will also put pressure on families who are already struggling perhaps even pushing them into debt.
There is some good news; the UK fuel duty which was due to be levied by a penny next month will probably be scrapped. The fuel duty has been voted as the government’s most unpopular tax in one recent survey.
Global food shortages have been created by adverse weather conditions especially in the Canadian Corn Belt. The demand for food is growing rapidly yet there is simply not enough to go around therefore prices continue to rise. Corn prices have risen by 70.0% this year alone.