Good morning: In his Times column on Monday Mark Littlewood reminded us that attempting to control inflation is like trying to catch a tiger by the tail. Once the beast has escaped its cage, it is no easy task to tame it. Inflation data this morning from the Office for National Statistics will do little to calm the fears of our columnist (or for that matter Andy Haldane, the Bank of England’s chief economist, and Lord King of Lothbury, its former governor). All three have warned in recent weeks about the dangers of rising inflation. SponsoredDriven by rising prices for clothing, petrol, meals and drinks, the headline annual CPI rate of inflation jumped to a larger than expected 2.1 per cent in May — above

Source: The Times June 16, 2021 07:52 UTC