IEA Director General Mark Littlewood has appeared on talkTV to discuss news that the rate of inflation remained stubbornly high at 8.7 per cent in May 2023.

Mark said:

“Very stubborn numbers here, these are grim numbers, but frankly unsurprising numbers…

“We have, as a country, been getting drunk on cheap credit and government spending for 15 or 20 years – the longer you spend getting drunk, the worse the hangover and we are now experiencing the hangover.

“Interest rates still remain below inflation, so if you’re putting your money in a bank account with a normal interest rate, it has less purchasing power…”

Watch Mark’s full appearance here (2:58:13).