perhaps the most evident of these challenges has been the rising cost of living, which has reached levels not seen for 30 years. the rate of inflation, which was already starting to rise in 2021, has significantly accelerated following the start of the conflict in ukraine which, as well as being a devastating humanitarian crisis, has led to sharp increases in the price of energy and caused widespread disruption to supply chains. direct impacts of this can be seen in the rising price of gas, electricity and oil as well as transport and food, all of which feed through to the market and serve to inflate the costs of other goods and services. to attempt to stem this rise, the bank of england has begun to raise interest rates which, in turn, also add to everyday costs such as mortgages and financing. vs perhaps the most evident of these challenges has been the rising cost of living, which has reached levels not seen for 30 years. the rate of inflation, which was already starting to rise in 2021, has significantly accelerated following the start of the conflict in ukraine which, as well as being a devastating humanitarian crisis, has led to sharp increases in the price of energy and caused widespread disruption to supply chains. direct impacts of this can be seen in the rising price of gas, electricity and oil, as well as transport and food, all of which feed through to the market and serve to inflate the costs of other goods and services. to attempt to stem this rise, the bank of england has begun to raise interest rates which, in turn, also add to everyday costs such as mortgages and financing.
