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This is messed up for UK citizens which is similar to what the rest of the world is facing these days primarily thanks to COVID and the Russian war. Also, someone like Boris Johnson representing UK is another factor in this case.
This whole situation is actually bad for the middle class and poor people since the rich will endure as usual even though they might see a drop in their profits.
This is a situation that is faced globally, food prices are soaring, fuel prices are rising and inflation is rising, you cannot blame everything on COVID for the situation let alone the Russian War. Countries and governments will blame the situation on them and have a free will situation. The economy was struggling well before the pandemic situation in majority of the countries and it is just another trigger and everyone will struggle during this phase.
I have read in the local news paper that people in UK are protecting against the hike in the prices, it is going on everywhere.
I am not sure how they are managing this - but in our country many people have parked their cars and started using local transportation. The grocery is almost double the price.
People will have to learn to be more frugal in their spending which in turn will bring the economy down, as a great deal of it is based on consumer spending, so when people lose faith in the economy it begins a downward spiral from which it is difficult to recover.
And about how to protect ourselves from inflation there are several ways to do this, one way is to buy all the food that you can which lasts for a long time, this way even if there are further increases in the price of food you are covered already for some time, you can reduce the money spent on luxuries like apps, video games or streaming services, and on even more extreme cases several family members could decide to live in the same house and share rent, decreasing your costs significantly in the process.
