Tuesday, November 13, 2007
Inflation back above target
Posted by David Smith at 09:35 AM
Category: Thoughts and responses

The inflation figures were less of a surprise than they might have been in the light of Monday's producer price numbers and the very obvious upward pressures on food and energy prices. CPI inflation came in at 2.1%, up from 1.8%, RPI inflation rose from 3.9% to 4.2% and RPIX (excluding mortgage interest payments) increased from 2.8% to 3.1%. The ill-timed rise in excise duty on petrol at the beginning of October did quite a lot of the damage. Details here.

Comments

Doubtless many will regard this as an old chestnut, but I wonder how many others are sceptical of these published rates given the current high rates of monetary expansion in the UK - currently 13.5% per annum according to this source

http://www.financialsense.com/Market/cpuplava/2007/1107.html

I am of course thinking of the discrepancy between economic data originating from the US Fed and that from independent sources such as

http://www.shadowstats.com/


Posted by: Boris at November 13, 2007 03:20 PM
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