Wednesday, May 11, 2011

La La La (Fingers in ears)

Higher energy bills threaten to push inflation rate up

Whole story "The governor of the Bank of England, Mervyn King, has warned that higher utility bills could push inflation to 5% later this year. Publishing the bank's latest Inflation Report, he said there remained strong downward pressures on economic growth and upward pressures on inflation. However, he said that the "big picture" had not changed much since the last report in February. The Bank still expects inflation to fall back in 2012 and 2013."

Posted by wdbeast @ 10:54 AM (1706 views)
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5 thoughts on “La La La (Fingers in ears)

  • We have been rightfully conditioned into thinking petrol, insurance, licenses, energy bills, and general taxation have nothing to do with

    inflation.

    These are all essential (mostly via thoughtfull law) companies that are not extracting the urine at all. They don’t live in a completely

    different world and it’s not all business as usual so TAKE IT. You just don’t understand how things work.

    Wer’e watching you!

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  • Keep moving the goal posts Merv.

    All will be forgotten when you follow in Gordon Brown’s footsteps. Enjoy your inflation proof retirement.

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  • They don’t give an inflation proof pension for no reason.

    It’s tied into a central banking job done well.

    Inflation = higher taxation, more central banking profits. Simples!

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  • Oh well, at this rate of non wage inflation we will not need higher interest rates as people will not have enough money left at the end of the month to pay there mortgage with either that or they will get p155ed of working just to repay the bank and then throw the towel in. The high level of non wage inflation should also push down on rents as there will be little cash left left to pay higher rents.

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  • The UK rate is 4.4 per cent whereas the EU’s as a whole was 2.8 per cent. What’s that telling us?

    The next ONS index publication date is 17 May 2011. I reckon the inflation rate must go up again! Even the packs of spuds in our Tesco are now in 2kg packs instead of 2.5kg for the same prices.

    Mervyn will blame oil prices..etc,etc. After all, house prices MUST be propped up – Just pick something new to blame…economy, growth, volcano dust, Tsunami, snow…etc. This approach is just building up more pain, later.

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