Do you know what inflation is? Many don't

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Despite recent news that inflation has hit a three-year high of 5.2%, new research has revealed that a quarter of Britons don't actually fully understand what inflation is. However, the majority do realise it may have a negative financial impact on them.

Even more people, over half of those polled, are not exactly sure what a recession is - although they do know that it's bad from them financially.