Editor
These are disorientating times for people my age. For most of my adult life, inflation has been weak and wage growth weaker. Now, inflation in the UK is 9 per cent. Last week, unionised drivers for the manufacturer JCB secured a 9.5 per cent pay rise. Rail unions are planning to strike. Britain’s policymakers, like their counterparts in other countries, are fretting about the possibility of a wage-price spiral.
Are we going back to…
