Despite the Prime Minister's pledge to halve inflation by the end of the year it's the Bank of England's job to deliver on that. Why is it struggling and what happens if it fails?

Britain's facing an inflation crisis. Core inflation - which measures underlying inflation and disregards food and energy costs - is at its highest since 1992. Earlier this year most economists thought this situation could be avoided - so what's gone wrong? David Aaronovitch and guests discuss what the rest of the world is doing about inflation and why Britain seems to be coming off worse.

Guests:

Duncan Weldon, economist and author of "Two Hundred Years of Muddling Through"

Produced by: Kirsteen Knight, Claire Bowes and Ben Carter