That’s what the headline in my feed reader said in a link to this story in The Guardian. I guess the teenagers who are editing The Guardian are too young to remember the 1970s. 3.8%, my young friends is a very low rate of inflation. 11% hurts. In Zimbabwe the inflation rates runs to five figures. That, children, is high inflation. Please stop trying to panic everyone in order to sell a lousy newspaper.

Thank you for listening.

Update: the latest figures show inflation in the U.S. at 5%. That’s starting to pinch me a little.