The Bank of England will doubtless want to put out a gloomy forecast for inflation for next year based on a lower pound.
They need to remember that October showed a further 1.7% fall in shop prices, including a 1.2% fall in food prices. This is from the BRC Index. This 1.7% decline figure is identical to the declines of 1.7% recorded in April and May this year before the vote.
It is true that imports will get a bit dearer from here, but important to remember we start from negative inflation on shop prices.