Inflation is steadily making its way back towards the Bank of England’s 2 per cent target and depending on who you listen to, it may even be back there by summer.

But opinions are divided on what happens next.

Will consumer prices inflation slump and stick below 2 per cent and the UK economy get stuck in another disinflationary trap, or will we see another spike as second round effects take hold?

While economists can ponder this, it’s an urgent puzzle for the Bank of England’s ratesetters to try to solve. On this podcast, Georgie Frost, Angharad Carrick and Simon Lambert look at what’s driving inflation down and where it may head next.

The team also look at food prices and whether 18 months of heavy rainfall and recent floods are about to start driving them back up again.

Plus, Neil Woodford’s back with a blog to ‘challenge consensus thinking’, what’s he doing, why and is it worth reading?

New Isa rules are meant to improve things for savers but banks aren’t playing ball.

And finally, how much is your supermarket charging for a plastic or even paper bag – and where is that money going? 

Stories featured in this podcast episode:

> What inflation falling means for you: CPI is at 3.2% – when will it reach Bank of England’s 2% target?

> Could the recent record rainfall leave our supermarket shelves empty?

> Neil Woodford is back as a finfluencer: You may remember me as the ‘disgraced’ fund manager

> Will your bank or building society let you open more than one cash Isa?

> How much does YOUR supermarket charge for bags?

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This post first appeared on Dailymail.co.uk

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