A month ago, the Financial Times blog Alphaville joked that financial TV personality Jim Cramer “is saying inflation has peaked, which leads us to worry that it hasn’t”.

So when inflation data last week came in below expectations, Cramer tweeted that he was waiting for the FT to apologise, adding: “I think their insulting words actually are NOT funny.”

An apology of sorts followed.

“We may have implied that Jim Cramer’s peak-inflation call was a reverse indicator for our readers,” the FT responded. “We regret the error. It was not our intention to give Cramer’s opinions any credence whatsoever.” Ouch.