“Labour was on the brink of civil war last night as Brexit and anti-Semitism threatened to split the party,” bellowed the Tory Daily Mail last week. “Jeremy Corbyn has been rocked by fierce and high-level infighting on both issues ahead of a nightmare week.”

In recent months, we have witnessed a noticeable deceleration of inflation. In February and March, we saw the prices of many goods and services remaining relatively stagnant, or even falling briefly. The behaviour of prices in June has been similar, coinciding with a seasonal period where several items (such as cheese, various vegetables, and some fruits) tend to be produced in greater quantity than during the rest of the year.