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It definitely feels like it's very easy to spend a tenner nowadays without actually buying very much at all. I know this is a bit "things were cheaper in my day" but it really does feel like the headline rate of inflation is hiding the reality which feels a lot worse that 3% or 4%.

Here's an example. 5 years ago you could get a big bag of either Kettle Chips or Tyrell's for £1. I used to keep an eye on them and one or other was always on offer at that price. Now when they're on offer it's at £1.75, never any lower ever. That's a 75% increase in 5 years way above 4% pa.

Here's another example. I'm certain that buying a single ice cream (Cornetto, Flake Ice Cream etc) from a freezer in a garage was generally around £1. Possibly slightly more but never more than £1.50 5 years ago. I bought one yesterday for £2.99. Again they've gone up way above headline inflation.

I know about compound interest. But I've checked and the rate compounded since 2020 is 27.43%. But it feels like things have gone up way more than that