Inflation means pay is now falling

The video discusses the real-world impact of inflation and wage growth on prices and spending power. It highlights how shop owners manage rising costs and the disparity between wage growth and inflation, affecting purchasing power. The video also explores the impact on families, especially those on benefits, and provides a future outlook on wages and inflation.

What is the current rate of inflation mentioned in the video?

• 1.5%

• 2.7%

• 3.0%

• 2.1%

How much have wages increased over the past year according to the video?

• 2.1%

• 3.5%

• 1.8%

• 2.7%

If a product cost £10 last year, how much does it cost now due to inflation?

• £10.30

• £10.10

• £10.27

• £10.50

What is the annual financial loss for families on benefits as mentioned in the video?

• £250

• £500

• £400

• £360

What is the expected trend for wages in the next 12 months?

• Wages will surpass inflation.

• Wages will fall further behind inflation.

• Wages will remain the same.

• Wages will increase significantly.