In his bi-weekly column for The Times, IEA Director General Mark Littlewood warned that the era of low-inflation was coming to an end, referencing the ‘sheer scale’ of money production during the last year.

Mark argued: “The entire UK quantitative easing programme has so far amounted to £872 billion, more than half of this money creation effort has occurred since March last year. The growth rate of “broad money” has increased by 12.3 per cent in the past 12 months“.

Mark warned politicians of all stripes will “find themselves desperately trying to catch and tame Hayek’s tiger of inflation in the months ahead“.

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