I think it’s pretty clear people want prices to go back to what they were. You hear it in the way people talk about the government and how “nothing’s changed”. Things have changed, but the thing people want to change is the cost of living, and that certainly has not gone back to what it was.
With 3% inflation, prices are pretty much stable, though. Inflation in that region does not cause the same kinds of instability and problems that the higher rates we saw cause.
Going in the right direction does not mean its good.
When people hear “good news” about inflation they expect prices to be stable*, and they just arent yet.
*or go back to how they were, which is a problem the boe alone cant be expected to educate on.
I think it’s pretty clear people want prices to go back to what they were. You hear it in the way people talk about the government and how “nothing’s changed”. Things have changed, but the thing people want to change is the cost of living, and that certainly has not gone back to what it was.
With 3% inflation, prices are pretty much stable, though. Inflation in that region does not cause the same kinds of instability and problems that the higher rates we saw cause.