Nobody’s talking about printing money. Ultimately, costs HAVE gone up. Things ARE more expensive - we know there’s issues with gas supply, with sunflower oil, with vegetables, with eggs, with everything. That’s not a matter of how you count it or explain it or who benefits or anything. Those things are simply more expensive than they were before. Or more difficult to get hold of, more valuable.

That has to be felt somewhere. It can’t be obscured or offset or divided up in different ways, things are more expensive to us as a country. If everyone’s wage goes up, the price just rises, we as a country have the same amount of x items, we have the same number of people wanting them. If everyone has the exact same purchasing power with a higher number slapped on it, nothing in real terms has changed.

I really don’t have the in-depth level of understanding to try and explain it. I just know that something has to give to stop inflation. The value of our money has dropped in relation to our ability to buy things, because those things have become globally more expensive. We can put everyone’s wages up as much as we want, that doesn’t change the true value. It’s just the same value with a higher number, indefinitely. I might feel better if they increase my wages, but it’s in a vacuum. I have no more purchasing power than I did before, because that hasn’t CREATED any new money, and we can do that forever until we’re all getting paid by the billions.

You have to be poorer to stop inflation, or you’re just hiding from it. That is not some kind of judgement made by the BoE, that’s condensing a huge amount of economic knowledge into a single sentence.