A startling poll by Survation was published today. It attempted to guage the general public's understanding of inflation.

Question One asked
"If a loaf of bread is £1 today and the annual rate of inflation is 5%, how much will the new price of the loaf be?"

Only 29% correctly identified £1.05!!!

Question Two asked
"If the rate of inflation halves in the coming year, does that mean...
A) Food prices will decrease
B) Food prices will stay the same
C) Food prices will increase by less

Only 23% picked the correct answer C.

At least this should be an argument for no more referenda to decide our futures please.