Has baby boomer spending kept inflation high in the UK?

This is a fascinating article, highlighting a potential reason why inflation is staying high: high levels of expenditure from baby boomers who've benefitted from economic circumstances.

Not only do many of them have generous final salary pensions, but the recent interest rate rises have also boosted the returns generated by their savings, and as a result there are high levels of spending in certain sectors of the economy. And they've also benefitted from free education, and free healthcare; so this article highlights both a source of inflationary pressure and the lack of intergenerational equity that's being perpetuated in the UK.

Baby boomers are a generational cohort born during a post-World War II demographic boom that occurred in many Western countries, particularly in the United States and Canada. The baby boomer generation typically includes individuals born between the mid-1940s and the mid-1960s, although the exact years can vary slightly depending on the source and the country in question.

This generation received its name because of the significant increase in birth rates during this period, which was largely attributed to returning soldiers starting families after the war and a general atmosphere of economic prosperity and optimism. The baby boomers have had a substantial impact on various aspects of society, including economics, as they represent a large and influential demographic group. As they have aged, baby boomers have influenced consumer behavior, retirement trends, healthcare demands, and government policies related to aging populations. Their impact on the economy has been a subject of interest in the field of population economics and related disciplines.