Coats and Interest Rate Rises

As a grown up i really should be more interested in things like economics but whenever i try and find out about things like interest rates i find my mind wandering elsewhere and considering things like if i took out both my eyes and pointed them at each other, what would i see and the whole conversation is wasted.
With that in mind i sat down with a Financial Expert today fully prepared to clear my mind of everything and concentrate on why interest rates are so high and what it means for us.
Before the first chart came out i was resisting the urge to yawn and then i noticed that she was wearing some lovely stylish red kitten heel shoes which complimented her red pencil skirt, they looked expensive and probably were, this woman would not be wearing Matalan shoes.
Jolting myself back to reality, the conversation had moved onto consumer spending and mortgages with some up and down lines which she had drawn at some point so i mentally shook myself down to listen properly and learn.
Something about charges on other forms of credit, such as credit card loans, bank loans, and car loans and...wow, that's a fancy pen, a fountain pen i think, wonder if it's a Christmas present, Christmas seems such a long time ago now and we are almost at the end of January already...'so if the cost of a £100 coat rises by £5, then inflation is 5%'.          
I nodded, scribbled 'Coat' on my pad and waited while she wrote one to five on a sheet of paper and said: 'Firstly its economies coming out of Covid restrictions and the increase in...', that sky looks grey, hope it doesn't rain, i was hoping to nip to the hairdressers on the way home tonight as i won't have time tomorrow, i got that thing at 9am, who the hell arranges a meeting at 9am on a Saturday morning, oops, she looking at me and asking me if i understood that bit, better nod and look like i'm writing things down.  
'Ok, and finally the Bank of England are responsible...', good, she said finally, i really do like those shoes, would go great with that white blouse i got from Next last summer..bugger, she's putting her pen down and asking me if there is anything i want to go back over?    
I closed my pad quickly and said that she explained it really well and thanked her for her time and made off quickly back to my car where i opened my pad to see the single word 'Coat' written.
So in short, inflation rates are rising due to people in Covid hit economies buying more expensive coats...or something like that.