There are some short-term levers the government could pull but they all involve tough political choices.
The Bank of England and government's argument for hiking interest rates - which some economists dispute - is that it makes borrowing more expensive.
The rest of the population privately rent, or are in social rent, so could well end up spending less due to rising rents.Another question around rising interest rates is what it means for Rishi Sunak's second priority:The strategy to get inflation down relies on stopping people from spending as much.
But Number 10 have been clear they are not introducing price caps and any such schemes would be at retailers' discretion.The governor of the Bank of England has suggested workers shouldn't ask for excessive pay rises. In blunter terms - their strategy of reducing inflation by reducing demand means people need to be able to afford less.
State-intervention examples could be building more houses, investing in infrastructure, or investing in homegrown energy supplies like nuclear power or renewables.In short...
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