Good News, Inflation Falling.....

[ToraToraTora]

https://www.bbc.co.uk/news/live/business-66231510
yes the medicine is harsh but it seems to be working.

[douglas9401]

How can we believe anything coming from the lefty, pinko, anti Brexit BBC? :-)

[Peter Pedant]

poor fluffy presenter could only say "drop "in the second minute of speaking.

as if it were tar water

[Gromit]

Yes good news. Going in the right direction.
But still considerably higher than Belgium 2.7% and Spain 2.9%.

[ToraToraTora]

Every silver lining eh gromit!

[Atheist]

What is the govt doing to fight inflation? The BBC link seemed not to have anything to say except that the govt was pleased with what's happening. What is the harsh medicine?

[Kardashev]

I assume you don't have a mortgage athiest.

[Atheist]

Kard... No I don't, and I,m not sure why you ask. Can you tell me what the govt are actually doing, apart from waiting and hoping that things improve?

[Kardashev]

Well one of the ways governments control inflation is via interest rates and they have gone up from virtually zero to 5% and that's surely got to hurt the millions that have a mortgage. I think that is at least one part of the "harsh" medicine to which the OP refers.

[Atheist]

Kard... I thought the Bank of England made decisions on the bank rate.

[Old_Geezer]

It is; an past inadequate government opted to push that responsibility onto a bank, rather than consider advice from them.

But you can't expect the government to be able to do much nowadays; they're too busy trying to screw NI and split up the UK.

[Kardashev]

12:03, yes but they are tasked with keeping inflation under control, that's how they do it.

[ToraToraTora]

brave try kardy but you'll get nothing but obfuscation out of that one.

[Gromit]

Biden in the US introduced the Inflation Reduction Act 2022. Since then inflation has dropped to 3%, less than half ours.

[ToraToraTora]

yes but I assume the act alone didn't do it gromit. When is he legislating for peace on Earth?