Four trends that will cause a cost of living crisis

One theme threads its way through almost all the headline news of the last two weeks: higher costs. Most of the coverage — from gas price spikes to labour shortages — has rightly focused on the short-term nature of these pressures, stemming from the rapid economic restart after the pandemic. But there are also deeper, longer-term trends at work that could end up being far more important for our future living standards. As party conference season unfolds, a key question for our politicians is whether they have answers to these challenges.

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