Inflation hits target because it was always going to

Inflation hits target because it was always going to

Last Updated: June 19, 2024By Tags: , , , , , ,

Inflation has finally fallen to the Bank of England’s two per cent target rate for the first time in three years – but don’t listen to any politician who tries to take credit for it – it was always going to.

Here‘s the BBC:

Inflation has hit the Bank of England’s target for the first time in almost three years.

Prices rose at 2% in the year to May, down from 2.3% the month before, official figures show.

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The economy is a key talking point in the run-up to the general election on 4 July, with all of the main parties battling over how they would keep the cost of living under control.

The Conservatives said their “difficult decisions” were paying off.

Nothing the Conservatives have done will have made any difference to the level of inflation.

It is the responsibility of the Bank of England to take measures to control inflation. That is why interest rates are at their highest point in 16 years (which is the monetary equivalent of using a sledgehammer to crack a peanut).

And also, the worst price rises (energy) have dropped off the inflation statistics, with costs actually falling – although it seems unlikely that those savings will be passed on to the public.

But still we get told by the Tories that this is because of something they have done – and Labour has supported their story, it seems from the BBC article, by saying pressures on family finances were “still acute” (the implication being that these pressures are still acute in spite of whatever the Tories have done – even though we know they’ve done nothing).

Wouldn’t you rather have some honest people in Westminster, instead of these gaslighters?

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