Tuesday, Jul 14, 2009
BoE hits target!
BBC: UK inflation dips to 1.8% in June
"UK annual inflation fell in June as the Consumer Prices Index (CPI) dropped to 1.8% from 2.2% in May, the Office for National Statistics (ONS) said.
CPI, which met analysts' forecasts, fell because of lower food prices.
It is the first time since September 2007 that the CPI is below the Bank of England's target of 2%. "
Posted by phdinbubbles @ 10:03 AM (1161 views) Add Comment
13 Comments
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1. paul said...
They'll have to start cutting interest rates now.
2. mr g said...
Bullsh*t !!!!!
My personal CPI rose by more than any 1.8% in June.
3. george monsoon said...
Okay I did my own research based upon last years bills compared with this years.
it works out roughly (and my maths are reasonable) to be about 12% increase in outgoings since last year.
4. Wageslavex14 said...
I liked this slip in the article: "In the near future the BBC is urging the Bank of England to expand the scale of quantitative easing well beyond £125bn." They meant to say the BCC (British Chambers of Commerce), but I think they were spot on as is.
5. need-a-crash said...
"In the near future the BBC is urging the Bank of England to expand the scale of quantitative easing well beyond £125bn."
Is this a freudian slip by the BBC or are they really campaigning for QE?
6. paul said...
"In the near future the BBC is urging the Bank of England to expand the scale of quantitative easing well beyond £125bn. "
Woooah. Well spotted, need-a-crash!
Since when did the state media channel have any say over central bank policy?
7. denzil said...
wageslavex14 said:
"I liked this slip in the article: "In the near future the BBC is urging the Bank of England to expand the scale of quantitative easing well beyond £125bn."
Well spotted! I expect Peston to be leading the BBC lobby on the BoE.
8. mark said...
What is interesting in the report they say food prices have gone down..
my question is this
Do they measure the size/weight of the foods they say have gone down in price, because i have noticed recently prices look as if they have dropped, however closer inspection reveals packet sizes have come down in size, for example Marmite rice cakes, there is around 8 less in a packet, plus they are now smaller in size...
Or should we take these figures with a pinch of salt..
9. novice pete said...
I buy Asda 'smart price' washing powder, used to be 1kg packet, is now 800g for the same price I think. Not sure about other products.
10. paul said...
Revisionista sees all:
The Archetypal Freudian Slip
11. george monsoon said...
Look what I found
http://a330.g.akamai.net/7/330/25828/20090318195802/graphics.eiu.com/specialReport/manning_the_barricades.pdf
12. Thenewdoctorwho said...
George @11
Holy CR*P. Does that mean normality and the world that we know only has a 60% chance of continuing. 30% chance of being pretty grim and 10% chance of us living in utter chaos and terror. OMG! Time to join the rifle club. Anyone got a book on growing your own?
13. hpwatcher said...
I don't accept that CPI measurement. My food bill simply isn't going down.....