SIR – Having just returned from a lecture tour of Brazil, many delegates, even fellow financial economists and strategists were surprised when I pointed out money printing causes inflation.

Not necessarily in flat-screen TVs or electronic gismos, but what the average family has to buy to stay functioning.

Here are core purchase rises from January 2000 to the present day: Fuel oil 242 per cent, a dozen eggs 106 per cent, new car 55.20 per cent and coffee 52.9 per cent.

This is why people are concerned about the cost of living. Asset prices are something else, through the roof.

What bewilders me is the constant lies by politicians when every housewife, mother, father or shopkeeper knows they are lying.

Godfrey Bloom, MEP for Yorkshire and North Lincolnshire