Decades of complacency and groupthink are coming home to roost.
The UK’s inflation rate has set yet another horrifying record, and has once again defied expert predictions. The 10.1 per cent inflation rate announced today, the worst since 1982, was higher than expected by both Bank of England and private-sector economists. Alarmingly, the biggest contribution to this most recent jump was the rising cost of food and drink, meaning that inflation is now spreading far beyond our soaring energy bills.
