{"id":69961,"date":"2023-05-24T07:11:21","date_gmt":"2023-05-24T06:11:21","guid":{"rendered":"https:\/\/www.taxresearch.org.uk\/Blog\/?p=69961"},"modified":"2023-05-24T07:11:21","modified_gmt":"2023-05-24T06:11:21","slug":"when-will-we-get-price-controls-to-limit-inflation","status":"publish","type":"post","link":"https:\/\/www.taxresearch.org.uk\/Blog\/2023\/05\/24\/when-will-we-get-price-controls-to-limit-inflation\/","title":{"rendered":"When will we get price controls to limit inflation?"},"content":{"rendered":"<p>I noticed a <a href=\"https:\/\/www.ft.com\/content\/2c3747de-7827-471e-99a0-af554cb3b4e8\" target=\"_blank\" rel=\"noopener noreferrer\">report in the FT yesterday<\/a> that said:<\/p>\n<p><img loading=\"lazy\" decoding=\"async\" class=\"aligncenter size-large wp-image-69962\" src=\"https:\/\/www.taxresearch.org.uk\/Blog\/wp-content\/uploads\/2023\/05\/IMG_1073-550x145.jpeg\" alt=\"\" width=\"550\" height=\"145\" srcset=\"https:\/\/www.taxresearch.org.uk\/Blog\/wp-content\/uploads\/2023\/05\/IMG_1073-550x145.jpeg 550w, https:\/\/www.taxresearch.org.uk\/Blog\/wp-content\/uploads\/2023\/05\/IMG_1073-768x202.jpeg 768w, https:\/\/www.taxresearch.org.uk\/Blog\/wp-content\/uploads\/2023\/05\/IMG_1073-600x158.jpeg 600w, https:\/\/www.taxresearch.org.uk\/Blog\/wp-content\/uploads\/2023\/05\/IMG_1073.jpeg 1103w\" sizes=\"auto, (max-width: 550px) 100vw, 550px\" \/>That is an astonishing fall.<\/p>\n<p>So, I then looked at the <a href=\"https:\/\/en.macromicro.me\/collections\/4356\/freight\/44756\/drewry-world-container-index\" target=\"_blank\" rel=\"noopener noreferrer\">Drewry WCI index<\/a> that monitors the cost of transporting a freight container on key routes around the world. It looks like this over the last five years:<\/p>\n<p><img loading=\"lazy\" decoding=\"async\" class=\"aligncenter wp-image-69963 size-large\" src=\"https:\/\/www.taxresearch.org.uk\/Blog\/wp-content\/uploads\/2023\/05\/IMG_1074-550x314.jpeg\" alt=\"\" width=\"550\" height=\"314\" srcset=\"https:\/\/www.taxresearch.org.uk\/Blog\/wp-content\/uploads\/2023\/05\/IMG_1074-550x314.jpeg 550w, https:\/\/www.taxresearch.org.uk\/Blog\/wp-content\/uploads\/2023\/05\/IMG_1074-526x300.jpeg 526w, https:\/\/www.taxresearch.org.uk\/Blog\/wp-content\/uploads\/2023\/05\/IMG_1074-768x438.jpeg 768w, https:\/\/www.taxresearch.org.uk\/Blog\/wp-content\/uploads\/2023\/05\/IMG_1074-1536x876.jpeg 1536w, https:\/\/www.taxresearch.org.uk\/Blog\/wp-content\/uploads\/2023\/05\/IMG_1074-600x342.jpeg 600w, https:\/\/www.taxresearch.org.uk\/Blog\/wp-content\/uploads\/2023\/05\/IMG_1074.jpeg 1590w\" sizes=\"auto, (max-width: 550px) 100vw, 550px\" \/>As is apparent, one or two routes excepted, freight rates are back to pre-Covid rates. So world trade is back to normal.<\/p>\n<p>So if trade is back to normal and there are now no apparent supply shortages, with the capacity to meet demand clearly existing, the question has to be, why is inflation continuing?<\/p>\n<p>We know there is no wage \/ price spiral, because wages are very obviously lagging prices just about everywhere, so that cannot be the answer.<\/p>\n<p>The only obvious answer in that case is that profits have risen and are being maintained. Greedflation is keeping prices high.<\/p>\n<p>The question is then, when will we get price controls if business refuses to bring them down by itself?<\/p>\n","protected":false},"excerpt":{"rendered":"<p>I noticed a report in the FT yesterday that said: That is an astonishing fall. So, I then looked at the Drewry WCI index that<br \/><a class=\"moretag\" href=\"https:\/\/www.taxresearch.org.uk\/Blog\/2023\/05\/24\/when-will-we-get-price-controls-to-limit-inflation\/\"><em> Read the full article&#8230;<\/em><\/a><\/p>\n","protected":false},"author":1,"featured_media":0,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[35],"tags":[],"class_list":["post-69961","post","type-post","status-publish","format-standard","hentry","category-economics"],"_links":{"self":[{"href":"https:\/\/www.taxresearch.org.uk\/Blog\/wp-json\/wp\/v2\/posts\/69961","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/www.taxresearch.org.uk\/Blog\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/www.taxresearch.org.uk\/Blog\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/www.taxresearch.org.uk\/Blog\/wp-json\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/www.taxresearch.org.uk\/Blog\/wp-json\/wp\/v2\/comments?post=69961"}],"version-history":[{"count":1,"href":"https:\/\/www.taxresearch.org.uk\/Blog\/wp-json\/wp\/v2\/posts\/69961\/revisions"}],"predecessor-version":[{"id":69964,"href":"https:\/\/www.taxresearch.org.uk\/Blog\/wp-json\/wp\/v2\/posts\/69961\/revisions\/69964"}],"wp:attachment":[{"href":"https:\/\/www.taxresearch.org.uk\/Blog\/wp-json\/wp\/v2\/media?parent=69961"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.taxresearch.org.uk\/Blog\/wp-json\/wp\/v2\/categories?post=69961"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.taxresearch.org.uk\/Blog\/wp-json\/wp\/v2\/tags?post=69961"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}