Q: Who caused the inflation?  
  A: The Chancellor of the Exchequer.  
  Q: How did he cause it?  
  A: By putting a flood of new money into circulation.  
  Q: Why did he do that?  
  A: To prevent the exchange rate of the pound rising last year.  
  Q: Why did he want to stop it rising?  
  A: To keep level with the Deutschmark.  
  Q: What for?  
  A: To make it easier to join the EMS.
On the resurgence of inflation in the late 1980s (The Guardian, 24 July, 1989).











