Stubbornly hard inflation hardly suprising


In the Media

IEA analysis quoted in The Spectator

Mark Littlewood appears on talkTV

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).