So as we see record rises in inflation and to continue Nick Drew's theme some key elements are being ignored...
There is a much wider theme at work, there is a huge shortage of computer chips due to raw materials shortages. The big issue is the change in demand with cars now needing more chips as well as phones and most things electrical - the supply chain for the near doubling of demand is going to take a couple of years to fix. Plus China, as ever, interferes where it can with raw materials and supplies to Taiwan which is the home of much of the world's chip production (recent military manoeuvres too on the China side of the Taiwan strait are fund too....).
So used cars, used computers etc are all seeing huge bump in price, as are say new cars which are limited in number.
Against this background, the Bank of England issue another £1.5 billion of quantitative easing this week to try to get the UK economy booming again. Err....excuse me? Wage inflation is at over 5% this year, supply of goods is restricted. There are only two outcomes.
Stagflation - inflation but little economic growth or just plain old inflation with higher wages and prices in a spiral.
The genie is out of the bottle, last time this happened, it was 20 years to get it back in. Plenty of time over the summer for us to reflect on how this will impact the Economy, markets and Government.