When will we learn?
Apparently the PM has had another triumphant month and has reduced inflation to 3.4%.
Most of the fall is down to food prices which have remained steady after rising sharply last year.
What Mr. Sunak has done to keep down the price of fruit and veg is a mystery to the economics profession. But let us be clear it is nothing to do with the Bank of England and its woke, diversity awareness officers, nothing at all to do with high interest rates and everything to do with the PM’s restless quest to squeeze the curse of higher inflation out of the economy.
A grateful electorate will doubtless reward this huge achievement, after all years of higher inflation have not made them poorer or cost them their savings, made them cut back on essentials or borrow to make ends meet.
Tomorrow there will however be a a lamentable amount of publicity for the Bank of England when it will make its latest announcement on interest rates. A meaningless gesture that has nothing to do with the British economy, inflation or growth.
When will we learn higher inflation is the Bank’s fault, lower inflation is the government’s achievement?
Economics, trade and Brexit, not necessarily in that order but the dog always comes first.
By Jonty Bloom Media