Sussex will feel the economic impact of the Russian invasion of Ukraine – this is what we can do to mitigate it

Even before the brutality of a war in Europe, inflation in the UK was at historic levels. For many who were lucky enough to escape ‘long Covid’ the long-term consequences of the pandemic will almost certainly be financial and economic ones.

The Consumer Prices Index (CPI) rose by 5.5 per cent in the 12 months to January 2022 – and has not been higher in 30 years.

Even though the UK only buys a tiny amount of its natural gas from Russia, in a global market the invasion and the sanctions that will follow will push petrol and energy prices higher – at a time when domestic fuel bills were already set to soar.

That, combined with an inevitable increase in raw material costs, will squeeze household finances in Sussex still tighter.

The effect of all this is we will have less money to spend; food and other prices will be significantly higher and – as night follows day – there will be incredible pressure on the Bank of England to continue to raise interest rates. M

Mortgages will creep upwards and a housing market red hot from a lack of supply will face a new form of challenge.

Meanwhile, a volatile stock market will be unsettling for everyone with small private pensions who depend on their often very modest investments coming good.

Have you read? Sussex MPs react to news of Russian invasion

Of course, the business of economics is an uncertain one. We would all be extremely rich if we could predict precisely how the economy would perform in a crisis.

But there are steps we can all take to help – and which will also protect our environment.

Shop local. Using the car and public transport less is one way to alleviate the impact of more expensive petrol – and food that is grown, reared and manufactured in Sussex will incur smaller transport charges too.

Sussex has a wealth of local producers – and the excellent Sussex Food and Drink Awards of which we have been media partners for many years have helped to promote quality local foods and drink.

You can read the winners of last year’s awards here.

The high streets of Chichester, Worthing, Horsham, Crawley, Haywards Heath, Eastbourne, Hastings, Lewes – and all towns and villages in between – have never needed us more. Shop there.

Don’t waste electricity. By that I don’t mean turn off the heating. Our newspapers continue to run a Heat AND Eat campaign because we believe no-one should have to choose between the two.

But there are many sensible steps you can take like always turning off lights in rooms not in use – the same applies to shops and commercial premises.

Work from home. If you are lucky enough to be able to do so, carry forward the home working skills that the pandemic has taught us.

Look out for other people. There will always be people in our communities who are worse off than ourselves. So we should do all we can to support them. Your local weekly newspapers in Sussex and their website SussexWorld will certainly be doing that.

Buy a copy of your local newspaper every week. Of course I would say that, wouldn’t I? But buying a newspaper like ours funds our entirely independent, trained and trusted local journalism online and in print.

Honest information is the most valuable commodity when there are those with a vested interest in distorting the truth on a global platform.

Newspapers are also an environmentally friendly way to consume your news. The recycled paper content of our papers was 69.2% in 2018.

Perhaps give your time and help to organisations that are helping others. Groups like the Horsham Debt Advice Service perform amazing work. Visit www.hdas.co.uk/

Finally, there is likely to be a humanitarian crisis in the Ukraine. No matter how tough it gets in Sussex – we will all be better off than those innocent victims of this war. So when the call for fund-raising comes I know that Sussex will rise to the challenge. The people here always have done so with enormous generosity.