be watching that? trier? businesses? how closely will people be watching that?— be watching that? very closely. we have seen headline _ be watching that? very closely. we have seen headline cpi, _ be watching that? very closely. we have seen headline cpi, consumerl have seen headline cpi, consumer price _ have seen headline cpi, consumer price inflation— have seen headline cpi, consumer price inflation standard _ have seen headline cpi, consumer price inflation standard 3.1%, - have seen headline cpi, consumer price inflation standard 3.1%, but. price inflation standard 3.1%, but actually, — price inflation standard 3.1%, but actually, far— price inflation standard 3.1%, but actually, far more _ price inflation standard 3.1%, but actually, far more interesting - price inflation standard 3.1%, but actually, far more interesting is. price inflation standard 3.1%, but| actually, far more interesting is a producer— actually, far more interesting is a producer price _ actually, far more interesting is a producer price inflation. - actually, far more interesting is a producer price inflation. that - producer price inflation. that stands, — producer price inflation. that stands, in _ producer price inflation. that stands, in terms _ producer price inflation. that stands, in terms of- producer price inflation. that stands, in terms of the - producer price inflation. that stands, in terms of the inputj producer price inflation. that - stands, in terms of the input prices that they— stands, in terms of the input prices that they pay — stands, in terms of the input prices that they pay for. _ stands, in terms of the input prices that they pay for, at _ stands, in terms of the input prices that they pay for, at 11.4%, - stands, in terms of the input prices that they pay for, at 11.4%, which l that they pay for, at 11.4%, which is an— that they pay for, at 11.4%, which is an alt— that they pay for, at 11.4%, which is an all time _ that they pay for, at 11.4%, which is an all time high. _ that they pay for, at 11.4%, which is an all time high. and _ that they pay for, at 11.4%, which is an all time high. and so - is an all time high. and so businesses _ is an all time high. and so businesses are _ is an all time high. and so businesses are clearly- is an all time high. and so businesses are clearly not| is an all time high. and so - businesses are clearly not passing it on to _ businesses are clearly not passing it on to customers _ businesses are clearly not passing it on to customers just _ businesses are clearly not passing it on to customers just yet, - businesses are clearly not passing it on to customers just yet, but i businesses are clearly not passing it on to customers just yet, but atj it on to customers just yet, but at some _ it on to customers just yet, but at some point, — it on to customers just yet, but at some point. they— it on to customers just yet, but at some point, they will— it on to customers just yet, but at some point, they will have - it on to customers just yet, but at some point, they will have two. . some point, they will have two. because — some point, they will have two. because businesses— some point, they will have two. because businesses can't - some point, they will have two. because businesses can't hold i some point, they will have two. . because businesses can't hold out without _ because businesses can't hold out without raising _ because businesses can't hold out without raising their— because businesses can't hold out without raising their prices - because businesses can't hold out without raising their prices for- without raising their prices for that wrong _ without raising their prices for that wrong. and _ without raising their prices for that wrong. and so, _ without raising their prices for that wrong. and so, inflationl without raising their prices fori that wrong. and so, inflation is really— that wrong. and so, inflation is really kev _ that wrong. and so, inflation is really key. and _ that wrong. and so, inflation is really key. and then _ that wrong. and so, inflation is really key. and then we - that wrong. and so, inflation is really key. and then we have . that wrong. and so, inflation is. really key. and then we have the knock-on — really key. and then we have the knock—on effect _ really key. and then we have the knock—on effect in _ really key. and then we have the knock—on effect in monetary- really key. and then we have the i knock—on effect in monetary policy. the bank— knock—on effect in monetary policy. the bank of— knock—on effect in monetary policy. the bank of england _ knock—on effect in monetary policy. the bank of england meets - knock—on effect in monetary policy. the bank of england meets next. knock—on effect in monetary policy. i the bank of england meets next week to set— the bank of england meets next week to set interest — the bank of england meets next week to set interest rates _ the bank of england meets next week to set interest rates and _ the bank of england meets next week to set interest rates and there - the bank of england meets next week to set interest rates and there are - to set interest rates and there are discussions — to set interest rates and there are discussions about— to set interest rates and there are discussions about whether - to set interest rates and there are discussions about whether they. to set interest rates and there are i discussions about whether they will raise them — discussions about whether they will raise them it— discussions about whether they will raise them. it might— discussions about whether they will raise them. it might happen - discussions about whether they will raise them. it might happen next . raise them. it might happen next week, _ raise them. it might happen next week, it — raise them. it might happen next week, it might— raise them. it might happen next week, it might happen _ raise them. it might happen next week, it might happen a - raise them. it might happen next week, it might happen a month. raise them. it might happen next - week, it might happen a month after or early— week, it might happen a month after or early next — week, it might happen a month after or early next year, _ week, it might happen a month after or early next year, but _ week, it might happen a month after or early next year, but at _ week, it might happen a month after or early next year, but at some - or early next year, but at some point _ or early next year, but at some point the — or early next year, but at some point the bank— or early next year, but at some point the bank of _ or early next year, but at some point the bank of england - or early next year, but at some point the bank of england has i point the bank of england has to raise _ point the bank of england has to raise interest _ point the bank of england has to raise interest rates _ point the bank of england has to raise interest rates to _ point the bank of england has to raise interest rates to curb - point the bank of england has to raise interest rates to curb this i raise interest rates to curb this inflation — raise interest rates to curb this inflation. and _ raise interest rates to curb this inflation. and that _ raise interest rates to curb this inflation. and that will- raise interest rates to curb this inflation. and that will have . inflation. and that will have knock-on _ inflation. and that will have knock—on impact— inflation. and that will have i knock—on impact throughout inflation. and that will have - knock—on impact throughout the economv~ — knock-on impact throughout the econom . .,