We keep having this debate, don't we? Raging inflation just around the corner - or merely a knee-jerk reaction based on misinterpreting various straws in the wind?
Well, today we learn that Eurozone CPI has hit 3%, a ten-year high. Aluminium is way up, along with most of the supply chain for building stuff (notably, 'green' stuff). Oil has come off its July peak, but natural gas is actually quite scary.
Then again ... we seem set to be importing a whole new wave of cheap labour. The day that the Unions long for, when the Brexit / Covid labour shortage** really kicks in and transforms the relationship between capital and labour, never quite seems to arrive.
And people are repaying their mortgages. And CU is away, so we can't even ask him.
Maybe we should have a compo: UK CPI for December 2021, anybody?
** Earlier this month we did a short west-country tour, during which we patronised 7 establishments (hotels, restaurants). Didn't hear a single non-Brit voice amongst any of the staff. Wouldn't have been able to say that three years ago.