Monetary Policy

The Bank of England must act to restrain inflation

Christopher Snowdon quoted in The Express

IEA Head of Lifestyle Economics Christopher Snowdon was quoted in The Daily Express responding to September’s inflation figures.

Commenting on the greater-than-expected 10.1 per cent headline inflation rate, Christopher said:

“Double digit inflation in September is what was expected and it will get worse before it gets better.

“It is particularly concerning to see food and soft drink inflation at nearly 15 percent.”

Christopher also lamented the Bank of England’s slow response to increasing inflation, saying:

“The two percent target is laughable. This inflation is clearly not transitory. People will continue to see their salaries and savings eaten away until the Bank of England starts taking it more seriously.”

The full article can be read here.