Assessment: This has helped push UK’s “Misery Index” to its highest in a decade…
In an odd moment of truthful admission – that absolutely will not be heard in the US – The Bank of England governor has said he is “very sorry” that UK inflation is rising amid forecasts the cost of living could increase as much as 5%.
Andrew Bailey told the BBC that households were already feeling the impact of rising prices.
“I’m very sorry that’s happening,” he said.
“None of us want to see that happen.”
Inflation is currently ahead of the Bank of England’s 2% target at 3.1%. There are expectations it could rise to 5% by next April.
“Your silver has become dross, Your wine mixed with water. Your princes are rebellious, And companions of thieves …” Isaiah 1:22-23
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