The cost of living is rising at its fastest pace for 40 years, and economists warn prices will increase further this autumn — with some fearing annual inflation could hit 15 per cent.On this week’s episode, presenter Claer Barrett hears how the soaring cost of fuel, energy bills and food is causing podcast listeners to cut back in other areas in order to balance their budgets. Chris Giles, the FT’s economics editor, explains what’s causing the price rises and why this in turn is pushing up interest rates — and how effective this might be in getting inflation under control.Sarah Coles, senior personal finance analyst at Hargreaves Lansdown, notes how all of these pressures are being reflected on world stock markets, as well as looking at strategies people are taking with cash savings and mortgages on their homes.If you would like to be a future guest on Money Clinic, email the team via money@ft.com or send Claer a DM on social media — she’s @Claerb on Twitter, Instagram and TikTok.Follow Chris Giles on Twitter @ChrisGiles_Follow Sarah Coles on Twitter @SaraheColesTo listen to our previous episode “How to get a pay rise” https://www.ft.com/content/eeb84e5e-acf2-4b92-a99a-bd3514e1837d Presented by Claer Barrett. Produced by Persis Love and Philippa Goodrich. Executive producer is Manuela Saragosa. Sound design is by Breen Turner, with original music from Metaphor Music See acast.com/privacy for privacy and opt-out information.