The price isn’t right: Everything you need to know about inflation

The Bunker

Podmasters

News, Politics, Society & Culture, Government

4.6 • 984 Ratings

🗓️ 7 September 2023

⏱️ 30 minutes

🔗️ Recording | iTunes | RSS

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Summary

Inflation is one of the hot political topics at the moment. Jeremy Hunt says that keeping inflation at five per cent is putting money in the pocket of the average Brit... So we figured it was time to provide a cheat-sheet on inflation knowledge, just in case the Chancellor of the Exchequer needs a judgement-free refresher. Alex Andreou sits down with Giles Wilkes, senior fellow at the Institute for Government, to explain everything you need to know about inflation. “High inflation is the clearest sign that you've got something really wrong.” “The BoE thinks they need to raise interest rates in order to cut purchasing power.” “Inflation is all of the prices going up at once rather than some for their own idiosyncratic reasons.” www.patreon.com/bunkercast Written and presented by Alex Andreou. Producer: Liam Tait. Audio editor: Simon Williams. Managing editor: Jacob Jarvis. Music by Kenny Dickinson. Group Editor: Andrew Harrison. THE BUNKER is a Podmasters Production. Instagram | Twitter Learn more about your ad choices. Visit podcastchoices.com/adchoices

Transcript

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0:00.0	My name is Stan. I'm at. Nice to meet you. So you took up photography where? I've always loved
0:05.5	photography but I turn it into earning a living at 60. I enrolled on a day course.
0:11.8	Well college. I loved going to college. It's good you can retry. I'm enrolled on the day course. But college?
0:13.0	I loved going to college.
0:14.0	It's good you can retrain and do something.
0:16.0	Yeah, yeah.
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0:30.0	Pets brings so much joy.
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1:14.0	Alexandra. On Sunday I went to the corner shop I picked up a chocolate bar
1:18.8	the price sticker on it read one pound. When I took it to the till the shopkeeper, let's call him
1:25.3	Jeremy Hunt, said that will be one pound five p. When I questioned this he explained that
1:31.9	with inflation as it is a chocolate bar
1:34.4	should have gone up to one pound ten pea but for his very special offer just for me I
1:41.0	just put five pea in your pocket young man," he smiled.
1:45.1	Is this really how a Chancellor understands inflation? On Sunday he said that
1:50.4	inflation of 5% is putting money in people's pockets.
1:53.8	Or is it that he is betting very few of the people listening understand it?
	...

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