As the cost of food, energy, clothing and other general household goods and services continue to rocket, the UK people, economy and commercial and residential property markets face very worrying and uncertain times.

The Consumer Price Index (CPI) rose to 9% between April 2021 and April 2022 (the highest one year increase since 1989), according to the Office for National Statistics (ONS), and the Bank of England has warned that inflation will pass 10% before too long.

Inflation is a way to measure how much prices of everyday essential items have increased and the CPI measure of inflation shows how much the price of goods and services has risen or fallen over time.  So if 1 litre of petrol cost £1.10 in 2021 and costs £1.70 in 2022, 12 months later, the CPI measure would be 54%.