Once upon a time, while at school, I went on a course about Inflation. The “highlight” was a talk at Marlborough College by Enoch Powell about Money Supply, and how M3 was the number to keep a watch on (and it soon became Government Policy) Debates between devotees of Keynesian and Friedman raged and eventually we in the UK lurched into a Monetary Economic Policy with Interest Rates driving down Inflation but only after being hijacked by Lamont in his dream of following the ERM prior to the Euro.
Most of us are old enough to remember the nightmare of double digit inflation and interest rates in the mid-late '80’s.
Now, after Quantative Easing and printing money to cover the cost of Covid around the world are we about to see a return to those horrific times?
Personally I think it will be the big debate for this year, I also think you are already seeing it - Energy Prices are the easiest example. Many price rises are being blamed on the supply chain but is that the actual case?
I thought a thread to track things you find in the shops and any anecdotal stories of the impact.
Here - LPG up 40% since July. Domestic Gas up almost 50%
My monthly Steak at Lidl is now 20% more expensive per Kg than in December. Vodka is up 15%, Pork Ribs up 30%. Bread up 15%.
Toilet Rolls are up almost 30%.
Mortgage repayments (from other family members experience) up by 20% per month
Noticed much over your side of the Channel?
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