{"id":50648,"date":"2023-03-31T15:00:53","date_gmt":"2023-03-31T14:00:53","guid":{"rendered":"https:\/\/www.shefnews.co.uk\/?p=50648"},"modified":"2023-03-31T15:00:53","modified_gmt":"2023-03-31T14:00:53","slug":"sky-high-inflation-and-interest-rates-impacting-sheffield-locals","status":"publish","type":"post","link":"https:\/\/shefnews.co.uk\/index.php\/2023\/03\/31\/sky-high-inflation-and-interest-rates-impacting-sheffield-locals\/","title":{"rendered":"Sky-high inflation and interest rates impacting Sheffield locals"},"content":{"rendered":"\n<p>Inflation rates have hit 40-year highs, and interest rates have been raised to their highest level in 15 years.<\/p>\n\n\n\n<p>As well as individuals, businesses have been affected through wider implications on the economy, with people cutting back on spending as a result of the cost of living crisis.<\/p>\n\n\n\n<p>ShefNews spoke to people in Sheffield about how they have been affected by these changes, and an economist from the University of Sheffield explained what this all means.<\/p>\n\n\n\n<p>Dr Daniel Grey said: \u201cWhat\u2019s concerning is that they\u2019re raising interest rates in a period of low growth, so by doing that they could be pushing the economy back into a recession.\u201d<\/p>\n\n\n\n<p>It is unclear what the Bank of England and Jeremy Hunt will do in the coming months.<\/p>\n\n\n\n<figure class=\"wp-block-embed is-type-video is-provider-youtube wp-block-embed-youtube wp-embed-aspect-16-9 wp-has-aspect-ratio\"><div class=\"wp-block-embed__wrapper\">\n<iframe loading=\"lazy\" title=\"Inflation and interest rates impacting Sheffield locals\" width=\"1080\" height=\"608\" src=\"https:\/\/www.youtube.com\/embed\/wF84-YqSgsI?feature=oembed\"  allow=\"accelerometer; autoplay; clipboard-write; encrypted-media; gyroscope; picture-in-picture; web-share\" allowfullscreen><\/iframe>\n<\/div><\/figure>\n","protected":false},"excerpt":{"rendered":"<p>Inflation rates have hit 40-year highs, and interest rates have been raised to their highest level in 15 years.<\/p>\n","protected":false},"author":109,"featured_media":50676,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"_et_pb_use_builder":"","_et_pb_old_content":"","_et_gb_content_width":"","footnotes":""},"categories":[21,50,82,103],"tags":[1026,38,131],"class_list":["post-50648","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-news","category-politics","category-top-story","category-watch","tag-economy","tag-sheffield","tag-south-yorkshire"],"yoast_head":"<!-- This site is optimized with the Yoast SEO plugin v27.1.1 - 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