We might not think it, but we have never had it better

Amid the welter of commentary on the economy -much of it gloomy - and trade union complaints about high inflation, one key fact needs to be borne in mind.

14th July, 2007

Amid the welter of commentary on the economy -much of it gloomy - and trade union complaints about high inflation, one key fact needs to be borne in mind.

Despite higher inflation and rising interest rates, the vast majority of people are better off now than they were a few years ago.

Even over the last year or so, this trend has continued.

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