Inflation at 4.4%

[BrilloPad]

http://news.bbc.co.uk/1/hi/business/7555788.stm

UK inflation up to 4.4% in July

Rising food prices are pushing inflation higher
The UK's annual rate of inflation rose to 4.4% in July, up from 3.8% in June and more than twice the government's 2% target, official figures have shown.

The rise in the Consumer Prices Index (CPI) was higher than expected and driven mainly by soaring food prices.

High petrol prices also helped to push up inflation as the data was collected before the recent drop in oil prices.

Inflation as measured by the Retail Prices Index (RPI) - often used in pay negotiations - rose to 5% from 4.6%.

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Should interest rates rise now?

[HairyArsedBloke]

Should interest rates rise now?

No.

They should have gone up two years ago.

[BrilloPad]

No.

They should have gone up two years ago.

"I would not have started from here" is not overly helpful is it? I guess its the most useful comment I will get from the cuk economic section though.

[DimPrawn]

Inflation as measured by the Retail Prices Index (RPI) - often used in pay negotiations - rose to 5% from 4.6%.

I hope everyone is sticking up their rates!

Boomed!

[Diver]

I hope everyone is sticking up their rates!

Boomed!

I've stuck up the rents on my tenants

[HairyArsedBloke]

"I would not have started from here" is not overly helpful is it? I guess its the most useful comment I will get from the cuk economic section though.

What do you expect us to say? Real interest rates are zero or, more likely, negative at the moment. Despite all the claims that we are going into recession there still seems some strength in the economy. Although, I personally think that this is due to a state of denial by consumers. Of course interest rates should go up.

[DimPrawn]

I've stuck up the rents on my tenants

Good man. Only "fair" as Labour would say.

[Cyberman]

What do you expect us to say? Real interest rates are zero or, more likely, negative at the moment. Despite all the claims that we are going into recession there still seems some strength in the economy. Although, I personally think that this is due to a state of denial by consumers. Of course interest rates should go up.

There is no point in putting up interest rates when people have little disposable income, consumer spending is falling and a recession is looming. Interest rates and taxes need to come down.

[Bob Dalek]

There is no point in putting up interest rates when people have little disposable income, consumer spending is falling and a recession is looming. Interest rates and taxes need to come down.

Soylent Green-like solution is our only hope to cool inflation. Myself & Mrs. Dalek excepted, of course.