Inflation set to soar to 9.1% in 2022

By Business Helpline

27 Jun 2022

People and businesses across the United Kingdom have been attacked by inflation for much of the past twelve months and it has just hit 9.1 per cent in the month of April. 

This statistic has soared in recent months with strikes occurring over the country as unions look to campaign for higher pay on behalf of certain sector workers. Most notably, this is happening within the rail industry where National Rail are striking across the country, causing mass disruption to many. 

The government has opposed such actions, warning that big increases in wages will lead to higher levels of inflation. Such levels of inflation had only happened in the 1970s, with prices continuing to rise as wages increased. 

At the moment, inflation is at the highest percentage since March 1982. Here, it stood at 9.1 per cent and the Bank of England has predicted a surge to 11 per cent later in the year. 

A study from the BBC noted that 82 per cent of respondents felt that wages should increase to match the rising price of goods and services. 

Households suffered a staggering loss of £700-a-year in energy costs during April and many have also suffered losses with fuel price surges over the past couple of months. 

The Rail, Maritime and Transport (RMT) union is calling for a pay rise of 7 per cent and employers have only offered an increase of 3 per cent. 

Inflation business issues

Such levels of inflation will cause a big issue for business owners. Raw materials are going to be more expensive than they had been in the past and the wage expectations of staff members are undoubtedly going to increase. 

The possibility of a teaching strike could also leave business owners with children in a bit of a pickle, perhaps needing to fund the expense for a childminder or an alternative solution if their child is unable to attend school. 

In an older blog, we also noted how many businesses were having to lower their expected profit margins as a result of the train strikes.

Lynsey Harley, who sold specialist coffee to retailers across Britain, said that many clients cancelled because they were expecting a 50 per cent reduction in profit margins as a result of the recent train strikes on top of other cost-of-living issues. 

A perfect storm of the pandemic, Brexit, the war in Ukraine, and the current strikes are leading to an almost insurmountable financial cliff for many small businesses and the people who try to run them. These record levels of inflation are set to get worse as time passes by.

If you feel like any of these issues have had a detrimental impact on your business please do get in touch with one of our compassionate experts at 0800 088 2142.

Latest news

1

Morecambe shortlisted in National Visa Awards celebrating the UK’s thriving towns David Waddington and John O'Neill

Morecambe shortlisted in National Visa Awards celebrating the UK’s thriving towns

04 Jul 2025

2

County council sets out 'areas of focus for 2025-26 in document Coun Stephen Atkinson

County council sets out 'areas of focus for 2025-26 in document

04 Jul 2025

3

Warden Construction completes project to help Preston school double pupil numbers Warden Construction completes project to help Preston school double pupil numbers

Warden Construction completes project to help Preston school double pupil numbers

04 Jul 2025

4

Grant Thornton advises RJ Power Networks on sale to Ipsum Jamie Roberts

Grant Thornton advises RJ Power Networks on sale to Ipsum

04 Jul 2025

5

College principal resigns Karen Buchanan

College principal resigns

04 Jul 2025

Background image for hub sign up block

LBV Hub

Leverage Lancashire Business View platforms

Post your news
Post your events
Post your offers
Build your network
Improve your SEO
Gain coverage in the magazine
Sign-up
Events
LBV123 July/August Launch Event
Lancashire Business View magazine launch
Networking
16 Jul 2025

LBV123 July/August Launch Event

Burnley

08:30 - 10:30

Lancashire Built Environment Conference 2025
BEC 315 X 315 Px
Networking
25 Sep 2025

Lancashire Built Environment Conference 2025

Blackpool Football Club, Blackpool, FY1 6HX

08:30 - 13:00

CMI Level 5 Management and Leadership Course
UCLanAerialCampus.jpg.jpg
LBV Hub Seminars
21 Feb 2025 - 21 Feb 2026

CMI Level 5 Management and Leadership Course

Preston Campus, Preston , PR1 2HE

09:00 - 17:00

CMI Level 5 Project Management Course
UCLanAerialCampus.jpg.jpg
LBV Hub Seminars
21 Feb 2025 - 21 Feb 2026

CMI Level 5 Project Management Course

Preston Campus, Preston, PR1 2HE

08:00 - 17:00

Tri-Site Survey Equipment Showcase
unnamed (2).jpg.jpg
LBV Hub Seminars
09 Jul 2025 - 09 Jul 2025

Tri-Site Survey Equipment Showcase

Crow Wood Hotel, Burnley, BB12 0RT

09:30 - 16:00

Blackburn Cathedral hosts Champagne and Diamonds Event with Ainsworth Jewellers
Champagne-Jewellery 10 07 25_page-0001.jpg.jpg
LBV Hub Awards
10 Jul 2025 - 10 Jul 2025

Blackburn Cathedral hosts Champagne and Diamonds Event with Ainsworth Jewellers

Blackburn Cathedral, Blackburn, BB1 5AA

18:00 - 20:30

Choose Chorley for Business - Talent Reimagined Business Breakfast
talentreimaginedbb.png.png
LBV Hub Seminars
10 Jul 2025 - 10 Jul 2025

Choose Chorley for Business - Talent Reimagined Business Breakfast

Strawberry Fields Digital Hub, Chorley, PR71PS

08:00 - 10:30

Shaping Preston's future by remembering its past
1750160034867.png.png
LBV Hub Networking
16 Jul 2025 - 16 Jul 2025

Shaping Preston's future by remembering its past

Society1, Coworking Space, Preston, PR1 3LT

18:00 - 20:30

Chamber Summer BBQ
LBV Hub Social
17 Jul 2025 - 17 Jul 2025

Chamber Summer BBQ

The Borough, Dalton Square, Lancaster, LA1 1PP

17:30 - 20:00

Preston Tech Connection: Web3 is Dead. Or is It?
July Longer Banner.jpg.jpg
LBV Hub Networking
29 Jul 2025 - 29 Jul 2025

Preston Tech Connection: Web3 is Dead. Or is It?

Society1, Coworking Space, Preston, PR1 3LT

18:00 - 19:30

Preston Freelancer Meet-Up: July
Longer July Banner.jpg.jpg
LBV Hub Networking
31 Jul 2025 - 31 Jul 2025

Preston Freelancer Meet-Up: July

Society1, Coworking Space, Preston, PR1 3LT

10:00 - 11:30

Cumbria Business Expo 2025
https---cdn.evbuc.com-images-880461633-4862066883-1-original.20241022-110415.jpeg.jpg
LBV Hub Exhibitions
19 Sep 2025 - 19 Sep 2025

Cumbria Business Expo 2025

Carlisle Racecourse, Carlisle, CA2 4TS

09:00 - 15:00

Advertise with us

Reaching 50,000 members, our print, digital and event platforms offer a fantastic way to raise your business profile and help you grow.

Find out more LBV122 Online Graphic
Subscribe now

Weekly news bulletin