Yes it obviously is. But it's the poor who will really be affected by higher prices rather than middle/high earners like myself. I even spend 10hours of voluntary time a week helping with my wife at a local food bank and its incredible the number who now need basic day to day provisions. Not...
The only upside to all this, is that with the weather having been so mild, we've only needed to put the heating on 3 evenings since last winter. Every cloud.