You need to work out your personal inflation rate
The growing cost of living will negatively affect millions. Since the summer of 2021, inflation has sharply increased, and the Bank of England expects this trend to continue. As a result, we can expect the prices we pay for goods and services to rise and energy bill increases to come in unpleasant, unpredictable jumps. Stefan Wagstyl warns that the low-inflation environment of the 2010s seems to be over and urges us to find the time to take stock of our finances to curb their effects.
From Financial Times