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Hello and welcome to Coffee House Shots as a spectator's daily politics podcast, I'm Katie

Balls and I'm joined by Isabella Hardman and Kate Andrews, another day, another piece

of gloomy economic news.

The UK inflation rate has hit double digits, 10.1% that offers for national statistics

says.

Kate, how does this compare to what the projections pointed to?

Well, if we look at the forecast going back to last year, I mean practically nobody was

ever suggesting that inflation was going to hit double digits, what's been notable

is every time the Bank of England have released their forecast, they've had to increase

what they think the peak's going to be, they've always been too optimistic about where

inflation would peak.

The bank now thinks that inflation will rise to 13% this autumn, especially when the

energy price cap goes up, but it's difficult to say there's some people this morning saying

well look, oil prices are falling, actually fuel prices between June and July did rise

but the pace at which they rose has slowed significantly, maybe there's reason to be

optimistic that we're coming to the peak.

Now I look at some of the more worrying information and today's updated isn't just that headline

figure which is terrifying enough that inflation rose on the year to 10.1%, but also that it's

...