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

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.”

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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.

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