After the Office of National Statistics (ONS) figures published today revealed UK inflation soared to a 10-year high of 5.1%, putting further pressure on households across the UK, Business Leader got the views of some industry leaders on the impact it will have on the UK.

Susannah Streeter, senior investment and markets analyst, Hargreaves Lansdown shares her thoughts on the inflation stats.

The financial and labour markets have batted away Omicron like an annoying fly, but worries are increasing that inflationary pressures combined with an income squeeze could come with a painful sting.

The effect of the great resignation as workers search for higher pay is filtering through to wage growth, but the rises aren’t keeping pace with inflation. It’s a problem already buzzing in the ears of Bank of England policymakers, as they decide when and how quickly to raise rates to try and keep a lid on price rises.

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