Wednesday, December 3, 2008
but inflation in GB fantasy land is dropping..
UK food and energy prices are rising twice as fast as those in Europe, report finds
Power and food bills in the UK are rising at twice the rate they are in the European Union. A report from the Organisation for Economic Cooperation and Development yesterday showed that British bills surged at the fastest rate of any EU nation in October. Energy costs rose by 24.2 per cent compared with the same time last year, the OECD said.
Posted by mark @ 12:04 PM (559 views)
4 thoughts on “but inflation in GB fantasy land is dropping..”
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who stole my pension? says:
As the pound sinks the cost of food and energy imports will go up. Just as in Iceland!
mountain goat says:
Hmm that table makes you wish we would join the Euro
fjcruiser says:
Europe is about subsidies so these figures are manipulated. how long can subsidies last for ?
bystander says:
fjcruiser said..”how long can subsidies last for ?”
..not long now that the great powerhouse of Europe, Germany, is beginning to struggle. They will be printing money faster than everyone else, which is sure to store up huge inflationary pressures, expect union unrest and strikes in the coming months/years, as the true extent of this monetary manipulation and fiscal immorality takes effect. Our European cousins are not as afraid of direct action as our own overindulged unions are, so they may put up a fight for higher wages, causing a wage price spiral and higher interest rates from the ECB. I am ofcourse looking many months ahead and hope our own MPC will be forced to raise rates at the same pace, alternatively by then we may all be dancing to the single tune.