A year ago Boris Johnson said fears about rising inflation were “unfounded”.
Today the rate hit a 40-year high of 10.1%.
Soaring prices will mean more pain for households, especially those on the lowest incomes, and more agony for businesses.
This should be a matter of urgency for the person running the country but the Prime Minister is in Greece enjoying his second holiday in a fortnight.
The Tory peer and Asda boss, Lord Stuart Rose, hit the nail on the head when he said the captain of the ship had gone on shore leave while the country headed towards recession.
Nor is there any sign that Mr Johnson’s most likely successor, Liz Truss, has grasped the scale of the crisis.
Her proposed tax cuts would disproportionately benefit the wealthy and only add to the inflationary pressures.
The country deserves better than a lazy Prime Minister and the lazy thinking of the favourite to take his place.
Risky business
Britain's lax rules make it ridiculously easy to register a business in this country.
As we report today, all you have to do is pay a small fee and Companies House will register your firm with no questions asked.
Unlike in Germany, there is no need to provide proof of address, bank statements or any form of personal identification.
No wonder it has been described as a crook’s dream. Bogus companies are used to launder money, fleece customers and shield con men.
Companies House says it has only limited ability to check the validity of registrations. If it needs more powers the Department for Business should grant them.
Otherwise more people will be conned and more dirty money will be allowed to circulate.
Sight with bite
A blue shark has been spotted by the Cornish shoreline.
The rare sighting of the large fish was said to be Jaws-dropping.
