Inflation - the return of an old enemy
It's been a very, very long time since we had to deal with the consequences of double-digit inflation. Thank goodness.
1991 to be precise - so around 21 million Brits have no memory or cognisance of what that means.
I appreciate that we are long way from 10% but, even so, 5% will mean that prices (of everything) can double every 14 years, even without taking into account supply and demand.
It has been 10 years since we saw 5% inflation. Remember the banking collapse?
Things go neither down, nor up, forever - but why is it that people often assume that they do?
p.s. Have you had the knock on your door yet - given the 6.6% increase announced in minimum wage?
"Please sir - can I have some more?"
Do you plan to put your prices up - can you?