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Explained in plain English

What is inflation?

Inflation is the rate at which the general price level of goods and services is rising, and consequently, the purchasing power of currency is falling. While the gold found is valued at £7.6 million today, its actual worth when hidden could have been significantly different. Over time, inflation means money buys less, making gold an attractive store of value for some.

Stories that explain this

Pound falls to $1.337 as the Bank of England holds interest rates Train drivers on Avanti West Coast get 3.6% pay rise Pound holds near one-month high, but new data could shift rates

Questions this opens up

Why does money lose value? What is a cost of living crisis? Who measures inflation? Why do prices go up? How does the Bank of England help?

Related explainers

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