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Justin Urquhart Stewart on the ups and downs of inflation

Over the next few days BBC Wales will be looking at the economy in its Crunch Christmas series.

Inflation will be under the microscope on Tuesday when the latest figures are published.

Last month saw a drop in inflation from 5.2% to 5%, but that is still well above the Bank of England's 2% target.

We all know that the cost of living is going up but what exactly is inflation?

Justin Urquhart Stewart, director of Seven Investment Management, gave a potted history.

Welsh economy 'facing tough 2012'

  • 13 Dec 2011
  • From the section Wales