It's today explained on the will king for months my colleague Dylan Matthews the senior correspondent

at Vox was of a particular opinion about inflation he said and many economists said do not worry.

My new opinion is that I am somewhat worried about inflation.

In my defense I was not alone in that prediction and I've done a lot of thinking recently about why I got that wrong

and why other people might have gotten it wrong and how we got into the current situation where

inflation really is something to worry about.

It's 8.5%.

It's high. It's getting to a level we haven't seen since the 1970s early 1980s when inflation became sort of the defining

issue in American politics and really caused a great deal of damage and so we're very much not out of the danger zone.

Coming up what economists and Dylan got wrong about inflation and how we might get out of the danger zone.

As Bill Sykes with original music by Dan Gillespie Cells subscription required see audible.co.uk for terms.

Best gift I've ever received has to be a bike when I was younger a pedal bike.

It was a sort of slick little road bike and I remember it was all like it was so it was all wrapped up

it was so obvious it was obviously because nothing shaped like a bike and I had a little ribbon on it and I was so

full of that was a life changer and I'm still sort of big on cycling around my area now so full of that one changed me a little.

Joy in every sip with red cups now back at Starbucks.

Dylan Matthews senior correspondent at Vox last year to you it seemed like inflation would be transitory there would be an end to it.

Yeah in 2021 there was kind of a sense by me and some other people that inflation was happening in a few goods but not everything.

It seemed like cars were getting a lot more expensive it seemed like gas and food were getting more expensive and my general attitude was you know this isn't great but this

too shall pass and it just kept not passing and worse kept spreading to areas other than gas and cars and food into places where you

wouldn't expect some of the shortages we were seeing to necessarily be driving prices up to your credit you weren't the only person who doubted

that inflation would get this bad or last for this long were you.

...