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Yes cars was a bad example. The whole market is totally messed up due to the shortage of semiconductors. I suppose what I’m trying to say is that inflation is not rising due to consumer demand but something outside of our control on things we have to buy. We are all going to be poorer when the...

I could understand if the economy was overheating and people were driving up prices on goods like clothes or cars etc but that is not what is happening. The global price of energy is going up.

But surely these prices shooting up will do exactly that. If you have to spend a few hundred pounds a year more on energy you have less for other things

Can someone explain to me how raising interest rates is going to bring down inflation when the main factors are the increase in gas, electricity and petrol prices. How is raising interest rates going to bring those prices down?