Record-breaking price hikes

Inflation

Prices on everyday items have jumped 3.2% since last August, according to the Consumer Price Index measure of inflation. That’s the biggest jump since records began in 1997, driven by higher food costs. It means inflation is now well above the Bank of England’s target of 2%, which aims to keep prices steady. But the Office for National Statistics warms against reading too much into the data, saying the increases are temporary.

Lockdown lie-ins

68% of home workers wake up less than 30 minutes before starting work, according to a survey by Poly. The research warns that many may be hooked on “home comfort syndrome”. Almost a quarter said they’ve done exercise such as yoga while on a conference call, and the same proportion of French respondents confessed to enjoying a beauty treatment while on the phone.

Piles of pennies

The Royal Mint cranked up its penny printing machine last year for the first time in 2 years, producing 88 million new 1p coins. Many coins were boarded at home during the lockdowns, meaning more were needed in circulation. Overall, coin production is falling as more shoppers pay by card or contactless for payments.