Milk was delivered in the morning. at this firm, the milkman is staging a comeback amid food and drinks inflation at 19.2%. what has recently happened has highlighted the problems we have with these big international supply chains. they have shown they are very fragile and have fallen over and that has impacted users ability to get groceries consistently. in march the uk was the only advanced economy with double digit inflation, while in the united states, less hard hit by energy price rises than europe, price inflation is running at barely half the rate british consumers are enduring. there is no such thing as an automatic fall in the headline rate of inflation and that is why we have a plan, and if we re going to reduce pressures on families, it is essential that we stick to that plan and see it through so that we halve inflation this year as the prime minister has promised. but what forced inflation up, energy prices, and what is keeping it up, food prices, are not the result
People. that is one possible effect that could filter through given the right amount of time. that could filter through given the right amount of time. taking a look at this purely right amount of time. taking a look at this purely from right amount of time. taking a look at this purely from the right amount of time. taking a look at this purely from the banking - at this purely from the banking perspective, if people think back to 2008, the financial crash, banks were criticised for irresponsible lending and excessive risk taking and so forth. have enough lessons being learned from that and changes instituted to make sure that sort of crash doesn t happen again? that’s crash doesn t happen again? that s the million-dollar crash doesn t happen again? that s the million-dollar question - crash doesn t happen again? that s the million-dollar question here i the million dollar question here because whilst changes were absolutely made across the financial system as a result of t
The real constraint is how much capacity the economy has so how much money can be spent without the thing overheating and generating inflation. at the moment we are seeing inflation coming down and that is because it was global pressures that pushed inflation up in the first place, not domestic ones, now it is global pressures bringing it down. mild today even with the cloud, 12 and 13 but with some sunshine, north eastern scotland, east of the pennines, wales and parts of the midlands, we could see 11; and 15 but as we go to the evening, this train is approaching from the west, turning right across northern ireland in western scotland, showers potentially the side of midnight. ahead of our weather front. potentially the side of midnight. ahead of our weatherfront. this tends to fragment but with the cloud and breeze overnight it will be mild. it turns chillier towards the northwest and that s the change in wind direction for later tonight and tomorrow. from the southwest of the
Not affordable and it becomes apparent when you re talking about what the government can afford, it s more a matter of priority and it is for the cash strapped households. if we did start having our own printing press, that would be a lot of pain coming our way. it press, that would be a lot of pain coming our way- coming our way. it sounds like a fun idea but if everyone coming our way. it sounds like a fun idea but if everyone had coming our way. it sounds like a fun idea but if everyone had one - coming our way. it sounds like a fun idea but if everyone had one you - idea but if everyone had one you would have hideous inflation so the real constraint on spending isn t an arbitrary fiscal target, the real constraint is how much capacity the economy has so how much money can be spent without the thing overheating and generating inflation. at the moment we are seeing inflation coming down and that is because it was global pressures that pushed inflation up in the first place, not
Signs, but encouraging signs over the last quarter, that those figures are beginning to come down. we still have millions of working age people who are not actively looking for a job, either because they are in education, or they are unable to, or maybe they are too unwell to look for a job, and that means employers have to compete for the ones that are looking for a job, pushing wages up, which in turn pushes inflation up, which then makes people ask for higher wages. and it is that wage spiral that the bank of england is so afraid of. joining me now is adam dent, chief uk rates strategist at sa ntander. adam, the uk lost more working days to strike last year, 2022, than in any year since 1989, what do you think are the longer term damages is that? of ongoing labour disputes and the problems ever pay to the uk economy? problems ever pay to the uk econom ? ., ~ ,, , t economy? thank you very much. the interesting economy? thank you very much. the interesting thing economy? thank y