Bus i ne s s & Economy 16 Finance Monthly. 2022 has been a difficult year for businesses in the UK. Inflation is rising at its fastest rate in 40 years, and this has led to interest rates hitting their highest level in 13 years at 1.25% – as of July 2022. It is widely understood that the increase in money supply during lockdown coupled with skyrocketing energy and fuel prices have been the main contributors to the current levels of inflation. Both of these factors have hurt business growth this year. Below, we explore how these factors affect businesses. Interest Rates are Affecting How Businesses
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