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Without a proper plan, stagflation will be the least of Britain’s problems

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theguardian.com

Inflation is back with a vengeance. The cost of living has not been rising this fast since the Falklands war. Prices are climbing faster than wages.

In every respect bar one, this is clearly bad news. The best that Britain can hope for in the months ahead is a period of stagflation: weak growth and rapidly rising prices.

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