Some in the UK must accept that they're poorer, otherwise, inflation will stay persistent. Many people are reluctant to accept this fact. People and businesses continue to ask for higher wages or charge their customers more money as a response to higher bills and costs. It will increase inflation. We are all worse off, and we all have to take our share.
Food prices have risen at their fastest rate in 45 years, and inflation is above 10% — five times the target. And Pill, a six-figure Bank of England official, says Brits must "accept they're worse off and stop demanding pay rises." The former Goldman Sachs banker is out of touch with reality, and people are suffering from economic distress.