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Evening Standard

Business

Danny Blanchflower

A recession is worse than inflation -- why the Bank is getting this all wrong

Mervyn King Inflation Recession Mark Carney MPC Andrew Bailey Bank of England

Mervyn King (Philip Toscano/PA)
(Picture: PA Archive)

Danny Blanchflower

INFLATION hit 9% in April but this may well be close to the peak. Inflation falls as people stop spending but the fix to getting prices down is likely more harmful. The combination of fiscal austerity and monetary tightening is likely to put the economy into a downward tailspin. Brexit hasn’t helped.

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