Dr Sam Wylie

Your profits are going up by 5.1%.

It wouldn't really make very much difference to you.

as an investor in a company, getting dividends every year.

The price of the shares will go up by 5.1%.

The dividends will go up by 5.1%.

But that depends on the ability to pass costs on.

What if what you buy from your suppliers goes up by 5.1%, but then your customers refuse to accept a 5.1% increase and they go somewhere else?

They go to Audi.

Or they do something else.

They go to the Sunday markets or they buy from Amazon online.

If you can't pass your costs on in an inflationary environment, then your profits are just going to go down.

So this is a really big issue at the moment.

And it's an evolving issue.

We don't know.

whether companies will be able to pass on these higher costs.

So it's a level of uncertainty that we can't really get around.

And you can see that in the volatility of the market.

You know, the market's up, it's down because one day people are quite bullish and they're thinking, yes, those costs will get passed on.

Yes, the economy will continue to grow and there'll be same growth in profits.

So there'll be real growth in profits.