Inflation is a word that viewers are likely now hearing almost every day. It's the term we use to talk about the cost of things that most of us regularly buy, like food and clothes, electricity bills, and the materials and resources used by businesses. Wherever you're watching, it’s almost certain you've noticed these prices rising – your home and vehicle fuel costs, or certain foodstuffs like wheat, flour and sunflower oil that have been particularly impacted by shortages due to Western sanctions on Russia. In late August, French President Emmanuel Macron said it was time to accept "the end of abundance".


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