Fourth, I have no doubt that any resulting inflation will be used by those economic wizards at the Bank of England to seek to justify interest rate rises to punish us for our overconsumption of basic commodities without which we cannot at present survive, so compounding the problems created by this issue and helping drive the UK towards the recession that it seems we musty almost inevitably have now.
It seems as if neoliberal economics is destined to doom, and wants to take us all with it.
Amazingly, central bankers know about this even if the P³ doesn’t. The official target is 2% CPI and failure by more than 1% either side means writing a letter.
Such letters might inckude “Yup, CPI, but the one we all actually care about is Core CPI” which is taken to be a valid explanation.
Core CPI not including energy or food prices……
Energy price variations are considered not to be causes for monetary policy change….
This being compounded by this twattery:
Natural gas prices are at record levels for the time of year, trading at about five times their level two years ago. European countries could face supply issues this winter when demand is strongest because gas providers have been unable to fill storage during the summer.
First, the sooner we end our dependency on gas the better. It is, very obviously, an unreliable source of energy.
Fool. The entire point of gas is that it is a reliable source of dispatchable energy. It’s a price variable one but a reliable one.