Inflation for the month of July, as expected has broken the 10pct barrier,  hitting a 40 year high of 10.1% from the June ONS figure of 9.4%. The Bank of England is priming us for even more financial pain with unheard of levels of 13% in the conversation,  a possibility after energy caps, revised every 6 months, will be going significantly higher than even current eye watering levels,  in the October adjustment.

It isn’t just the UK going through the inflationary pain barrier, as most of the underlying reasons for higher food, energy and fuel pricing, are global. Thanks to the Russian invasion of Ukraine and subsequent sanctions imposed on Russia, huge volumes of grain, normally on markets for both human and cattle consumption, are no longer available.

Forecast for the next three months? sadly, more of the same.