All this inflation is the enemy and must be immediately brought under control nonsense is simply not true. The government and BoE completely fail to grasp that this inflationary set of pressures is not driven by people frivolously spending money on luxury goods, but on energy and food prices which people have to buy and hence the energy companies and food retailers operating in the Tory's lovely free market (a term that really means keeping their mates rich) can charge what they like and are doing. The BoE still can't see that interest rate rises will not do what they need or if they do in the longer term will put millions into poverty in doing so or I suspect they can, but don't care as of course all these lovely financial institutions can get even richer off the back of market instability.
If the government were serious about curbing inflation they'd leave the rates alone and start looking at truly flexible energy policies, long term housing improvement, food supply chain options and windfall taxing the profiteering outfits out there as well as setting permanent price caps to bring stability to the future, but they won't as they are in bed with all these big companies. That is why the UK is so utterly shite... a greedy self serving government combined with a large section of the population that just cannot see when its being shafted because they are sheep like and believe the media who are mainly run by more of the Tories' buddies and instead they get convinced all their problems are down to the nasty foreigners. That said in some ways we have all let this happen so maybe we are getting what we deserve!
PS In 2009 the UK saw inflation climb due to oil prices and devaluation of the pound but left interest rates alone through the next three years and inflation stabilised anyway as it arguably always will do.
If the government were serious about curbing inflation they'd leave the rates alone and start looking at truly flexible energy policies, long term housing improvement, food supply chain options and windfall taxing the profiteering outfits out there as well as setting permanent price caps to bring stability to the future, but they won't as they are in bed with all these big companies. That is why the UK is so utterly shite... a greedy self serving government combined with a large section of the population that just cannot see when its being shafted because they are sheep like and believe the media who are mainly run by more of the Tories' buddies and instead they get convinced all their problems are down to the nasty foreigners. That said in some ways we have all let this happen so maybe we are getting what we deserve!
PS In 2009 the UK saw inflation climb due to oil prices and devaluation of the pound but left interest rates alone through the next three years and inflation stabilised anyway as it arguably always will do.