Daily Doom.

[oracleslave]

Didn't realise that. I suppose all governments lie.
Anyway this means interest rates won't be coming down. El Gordo has mismanaged the economy so badly he can't cut taxes or even provide any government spending at the one point it may be useful - as a stimulus during a recession because there's no money in the bank. The country is effectively skint.

The probem is I think they are too late, i.e. there is no time to save up and then start spending 2 years from now. The effect of govt spending often takes quite a while to have a stimulating effect on the economy at large. Therefore I don't see any way out other than 'assume the brace position' and hang tough for a few years.

[Manic]

Although if you look down the article and check the RPI which includes mortgage costs, rather than the CPI which doesnt, inflation has actually been reasonable stable for the last 12 months, within a 1% range.

The Govt is getting bitten in the arse now for insisting on using the CPI rather than the more realistic RPI.

If they'd accepted the RPI at around 4% as being a reasonable measure, as opposed to the CPI because it was a lower headline figure which made them look good, they wouldnt be taking the flak now for rising inflation.

Cue change of measure...lol

[sasguru]

Not strictly true. Last year the official figure was 4500 % when independent economists suggested upwards of 11000%. Then again when the numbers are that high it doesn't really make that much difference I suppose.

Didn't realise that. I suppose all governments lie.
Anyway this means interest rates won't be coming down. El Gordo has mismanaged the economy so badly he can't cut taxes or even provide any government spending at the one point it may be useful - as a stimulus during a recession because there's no money in the bank. The country is effectively skint.

[TheBigYinJames]

Inflation up again to 3.8%

If only it was that low.

Can't wait for the govt to come up with a new measure of inflation "Inflation adjusted to exclude all the things that are going up in price" (they did it with mortgages, so why not fuel/food soon)

[DaveB]

Although if you look down the article and check the RPI which includes mortgage costs, rather than the CPI which doesnt, inflation has actually been reasonable stable for the last 12 months, within a 1% range.

The Govt is getting bitten in the arse now for insisting on using the CPI rather than the more realistic RPI.

If they'd accepted the RPI at around 4% as being a reasonable measure, as opposed to the CPI because it was a lower headline figure which made them look good, they wouldnt be taking the flak now for rising inflation.

[oracleslave]

" ...official figures have shown ...".
The real rate of inflation is much, much higher.
At least they don't lie about it in Zimbabwe.

Not strictly true. Last year the official figure was 4500 % when independent economists suggested upwards of 11000%. Then again when the numbers are that high it doesn't really make that much difference I suppose.

[sasguru]

" ...official figures have shown ...".
The real rate of inflation is much, much higher.
At least they don't lie about it in Zimbabwe.

[DaveB]

Inflation up again to 3.8%