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U.k. Inflation Unexpectedly Exceeds 3% On Air Fares, Food

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Unexpectedly! - only if you are a financial crook and/or pathological liar.

http://www.bloomberg.com/news/2010-09-14/u-k-inflation-unexpectedly-exceeded-3-limit-in-august-on-air-fares-food.html

U.K. Inflation Unexpectedly Exceeds 3% on Air Fares, Food

By Scott Hamilton - Sep 14, 2010 9:39 AM GMT

U.K. Inflation Unexpectedly Exceeds 3%

Higher costs of bread, cereals and vegetables also stoked prices. Photographer: Simon Dawson/Bloomberg

U.K. Inflation Unexpectedly Exceeds 3%

William Morrison Supermarkets Plc, the smallest of the U.K.’s four main grocers, said Aug. 9 there will be a “slight rise” in prices later this year due to higher costs of commodities such as wheat and oil. Photographer: Chris Ratcliffe/Bloomberg

U.K. inflation unexpectedly exceeded the government’s 3 percent limit for a sixth month in August as higher costs of items from air fares to food stoked price pressures in the economy.

Consumer prices rose 3.1 percent from a year earlier, the same pace as in July, the Office for National Statistics said today in London. The median forecast of 30 economists in a Bloomberg News survey was for a reading of 3 percent. On the month, prices increased by 0.5 percen

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U.K. inflation unexpectedly exceeded the government's 3 percent limit for a sixth month in August as higher costs of items from air fares to food stoked price pressures in the economy.

Er, isn't it 2%? Or is this a new type of inflation?

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Merv still not fed up writing letters though.

Letter writing and speech making week,

http://www.google.com/hostednews/ukpress/article/ALeqM5iu3flI_Ngo66jrcbwMdzXCpAye6g

Bank chief set for TUC grilling

(UKPA) – 4 hours ago

Bank of England Governor Mervyn King will face questions on bankers' bonuses and tax evasion as well as a boycott by a leading trade unionist when he addresses the TUC Congress on Wednesday.

The 62-year-old will become only the second Governor to address the TUC when he speaks to delegates in Manchester in the wake of union attacks at the scale of bankers' pay while Government spending is being cut back.

Bob Crow, general secretary of the Rail Maritime and Transport union, will boycott the speech, saying it was like Christians asking the "devil" to address them.

"This is our congress and I don't think he should have been invited. He is on the side of the bosses - he is not welcome here. You would never see the Conservatives inviting a union general secretary to their conference.

"I haven't heard him offer much support to school dinner ladies, nurses or other public sector workers in the campaign against spending cuts."

In an interview published in the Congress Guide, Mr King, who earns more than £300,000, said he saw one of his roles as protecting the public from the banks.

He said he sympathised with public anger about the financial crisis, adding: "The origins of previous recessions could be traced to the need to combat inflation. This involved high interest rates, which inevitably affected businesses and jobs. But we have had the restructuring of industry, labour markets are more flexible and inflation is not the problem it was. People have a right to be puzzled."

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Unexpectedly! - only if you are a financial crook and/or pathological liar.

Well put!

Inflation is a powerful stealth tax.

It is an imperative that savers protect their wealth from the above.

I just wish I was shown the fraud of debt backed currency back in my 'skool daze' :(

Or at least swallowed the red pill a few years earlier.

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Chris Giles, the FT’s economics editor, points out that the discrepancy between CPI and RPI due to the different price averaging methods (arithmetic vs geometric mean) has reached a record of 0.86%.

Most of this is accounted for by clothing and footwear inflation, which CPI shows as falling year-on-year (-1.7%) whereas RPI has prices increasing (+6.3%).

http://www.ft.com/cms/s/0/c4564aea-c031-11df-b77d-00144feab49a.html

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I just wish I was shown the fraud of debt backed currency back in my 'skool daze' :(

Or at least swallowed the red pill a few years earlier.

Ah, we all wish for 20-20 hindsight

Just make sure you use what you now know from here on in

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  • 149 Brexit, House prices and Summer 2020

    1. 1. Including the effects Brexit, where do you think average UK house prices will be relative to now in June 2020?


      • down 5% +
      • down 2.5%
      • Even
      • up 2.5%
      • up 5%



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