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British inflation is rising after the Brexit vote

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Britons raise inflation expectations

Britons have raised their expectations for inflation over the coming year due to the plummet in the value of sterling after the Brexit vote, although the number of people who believe interest rates will rise is little changed, a Bank of England survey showed. The quarterly survey published on Friday showed average public expectations for inflation over the next 12 months rose to 2.9 percent in February from 2.8 percent in the previous survey in November. Taking a five-year view, Britons expected inflation of 3.2 percent compared with 3.1 percent three months earlier.

The BoE and many private economists say inflation is set to carry on climbing sharply in 2017. In the 12 months to January it stood at 1.8 percent and the Bank has said it expects it to peak at about 2.8 percent in the first half of 2018. Reuters

 

High house prices, inflation is rising nicely - the economy is fixed. Oh, hang on! What about wages?

 

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41 minutes ago, rollover said:

 

High house prices, inflation is rising nicely - the economy is fixed. Oh, hang on! What about wages?

 

We just suck the marrow whilst the inflated stock in the shop sits unsold. If the shops think they can pass on the higher costs, they may have a shock.

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11 minutes ago, GrizzlyDave said:

Would love a new measure called:

 

Real Inflation

it would measure things like:

house prices

insurance

wages

transport

Already several sources of the type:

http://www.realbritainindex.org/

Shadowstats for the USA is another source. Our economy shadows theirs, so one can make some reasonable assumptions.

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7 minutes ago, hotairmail said:

It's largely because Carney panicked and reduced rates again and printed a whole load of extra cash with threats to do yet more that crashed the £ ( again !- it was the BoE slashing rates from c.5% to 0.5% and printing £hundreds billions to save the banks' sorry ar-ses that brought about an even bigger devaluation of the £ in 2008.)

I guess his priorities are covering his assets and f%%k the economy.

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7 minutes ago, hotairmail said:

It's largely because Carney panicked and reduced rates again and printed a whole load of extra cash with threats to do yet more that crashed the £ ( again !- it was the BoE slashing rates from c.5% to 0.5% and printing £hundreds billions to save the banks' sorry ar-ses that brought about an even bigger devaluation of the £ in 2008.)

The same as the BOE did post 9/11.

Spineless crooks.

 

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