Tuesday, January 15, 2008
This should delay IR cuts
Food cost increase adds £750 to annual bill
Food prices are accelerating at their fastest rate since records began, fuelling a rise in the average family's shopping bill of £750 a year.
Posted by sold 2 rent 1 @ 07:49 AM (840 views)
5 thoughts on “This should delay IR cuts”
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Thx1138 says:
And yet the media and VI spivs are trying to influence the BoE to cut interest rates…
george monsoon says:
I am glad this article has been published, albeit by the Telegraph.
The great unwashed will read this and have thier eyes miraculously opened to the fact that maybe inflation figures published by the goverment lack credibility. A fact that some of us have been aware of for a long time.
Inflation is at least 10% pa, and I would guess this is increasing rapidly with the hold on interest rates. This government is absolutely clueless. I would guess that they are trying to inflate themselves out of debt, unfortunately wages are not keeping pace, so we are in for some big strikes. Expect electricity blackouts, petrol blockades, the works. It will be like the early 70’s all over again, only this time we have no manufacturing industry and the emerging economies will eat us for breakfast, dinner and tea. (yes I am from the north, where we eat dinner at midday and tea when we get home)
hpwatcher says:
They should increase rates…..but they won’t. Why? Because GB’s ”measures” put it at only 2%. The CPI should be done away with, just like this useless PM.
Afrobaggie says:
Yes but food prices don’t seem to have the bearing that Leather Sofas do!
happyrenterz says:
Why oh why are we developing biofuels? Literally burning our food in our cars. This must go down as the most foolish idea mankind has come up with. No wonder food costs are sky high.