There’s every chance the inflation genie is going to be out of its container very soon. Renovating a house over the last 18 months you can see that the reality of UK inflation has zero correlation with the utter nonsense figures being touted by Whitehall.

Yes, the new Tories can massage the figures claiming a 50-inch TV is cheaper, but all of us with eyes know technology drops as it ages. The reality is wood has doubled! Cement is up by a fifth and literally everything is on the same trajectory. Wage cost spiral? Have you tried to find a tradesman lately?

The problem is that printing money is easier than more taxes or spending cuts for the UK government. People don’t riot against it (not initially at least), footballers don’t call your cuts out, labelling you as mean and losing you voters.

But of course, this fake money, is not real value. Nothing got built, no service was ever rendered, and no value was ever added. The fake money sloshes into the real money, it’s completely indistinguishable from the hard-earned variety and dilutes it. The reality is that every fake pound the “new Tories” print, literally steals half the value of the pound in your pocket. Worse, it doesn’t pick its victims. The weakest, the most vulnerable, the old and the lowest paid suffer the most.

When you mix this new political easy money in with a labour shortage, problems getting things in at the docks, supply shortages from coronavirus and the push for shorter and more robust supply chains; you have a perfect storm.

The real trouble is that once the inflation genie is out of the bottle, there are still some of us around who know how hard the bugger is to get back in again.