World food prices are already at their highest level since November 2023, and that pressure has not yet fully been transmitted to what you pay at the till.

UK inflation is already expected to breach 5% in 2026, partly as a result of these pressures and the Bank of England warns it could get worse.

Meanwhile, it's the developing world faces the sharpest pain. In countries where food takes the largest share of household income, price spikes tip millions into food insecurity. But the UK is not immune

None of these four pressures arose by accident. Each is the consequence of political choices: the decisions to wage war, to burn fossil fuels, to impose tariffs. And the political response so far is nowhere near equal to the scale of the threat. Will you go hungry? That's the question now? The possibility is real.

The Bank of England has held interest rates, but the real story is what happens next. Beneath its decision, pressure is building to raise rates again, and that could prove disastrous.

In this video, I explain why that is the case. The inflation we are facing is not driven by excess domestic demand. It is being driven by war, supply shortages, and speculation in global commodity markets. Interest rate rises cannot produce more oil or resolve supply disruptions, but they can further suppress demand in an already weakening economy.

That is the risk we now face. Raising rates in these conditions could accelerate the move toward recession, increasing business costs, reducing investment, and undermining confidence. There is a real danger that central banks could turn a fragile situation into a much deeper economic crisis.

The problem, at its core, is that central banks are applying the wrong theory to the wrong problem. When inflation is supply-driven, higher interest rates do not solve it. They can only make it worse. And unless that is recognised soon, the consequences could be severe.

The Bank of England has warned that serious financial risks are building — and I think people need to pay attention.

An AI stock bubble, war in Iran, and risks in shadow banking could trigger a major financial correction.

In this video, I explain:

• Why I think the risks are real

• What the Bank of England is actually saying

• How to protect your pension

• WWhat to do about debt

• Why certainty matters more than chasing returns right now

This is not financial advice. Please seek regulated advice where appropriate.

But doing nothing may be the biggest risk of all.