Sunday, Jul 23, 2006
Inflation
Telegraph: Fact and fiction about inflation
Inflation is on the up. It has risen to 4.3 per cent in the US and 2.5 per cent in the UK. Moreover, if recent elevated energy prices are sustained, inflation could easily rise a good deal further.
I have written before on the reasons why I do not believe that recent developments presage an inflationary upsurge. But for many people this will provide scant comfort because they do not believe the figures anyway. Instead, they sense that the inflation numbers are like the data on immigration or the crime statistics - the product of an official machine that pays no attention to their daily reality and comes from another planet. Are they right?
Posted by jason @ 09:53 PM (165 views) Add Comment
1 Comment
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1. paul said...
His nice little chart completely betrays his sentiment.
It shows that the difference between the RPI and new "revised" CPI is about 1.0%, which is an alarming difference.