Who said the burnt child fears the fire? Central banks have shown themselves notable exceptions to that cliché, as evidenced by the slowness with which they responded to the early signs of inflation returning as a major threat, like a long-dormant volcano rumbling ominously. The institutions whose fundamental responsibility it was to detect and counteract the first symptoms of the inflationary scourge were reprehensibly relaxed about that menace.
The CMA’s swipe at food suppliers portrays big business as a conspiracy against the consumer
The task of the Competition and Markets Authority is to try and ensure that there is proper competition, not to dictate what is a reasonable profit margin.
