Who’s profiting from the cost of living crisis? Right now, it’s big business owners | Christine Berry

We've built an economy where life-or-death decisions on prices and wages are driven by investors' interests

The UK's cost of living crisis seems to escalate almost by the day. According to experts, we are facing the biggest fall in living standards since the 1970s. Announcing a phase-out of Russian oil imports, Boris Johnson spoke of dark days ahead" - as if the days we live in were not already dark enough.

This crisis cannot be blamed solely on Russia's brutal invasion of Ukraine. The return of high inflation may be traceable to short-term supply shocks. But the things that turn it into a crisis have been decades in the making.