inflation
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Money, whether in the form of US dollars, British pounds, or euros, consistently loses value over time, even when it appears stable. This phenomenon, known as money devaluation, is largely driven by inflation—the gradual increase in the prices of goods and services. Inflation erodes the purchasing power of money, meaning that cash saved today will
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The United Kingdom’s economic landscape in 2023 and 2024 was dominated by the battle against soaring inflation, rising borrowing costs, and growing economic uncertainty. Reaching a peak of 11.1% in October 2022, the highest level in over 40 years, inflation posed a significant challenge to policymakers, households, and businesses alike. The Bank of England and
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