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May 16, 2007
Inflation Shock!
My, my, how disturbing:
Many families are experiencing inflation of more than twice the official rate published by the Government, according to figures produced for The Daily Telegraph by Capital Economics.
There is a massive disparity between the living costs experienced by different types of households, with pensioners and middle-class families facing price rises of more than 7pc, the figures show.
Bit of a shocker, eh? Film at 11 sort of thing? The average inflation rate across the economy is, ermm, an average?
May 16, 2007 in Economics | Permalink
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Comments
I suppose there is some interest in how variable inflation is, ie whether the average is a good representation of what is 'typical'.
Also, inflation-adjustments to pay should take into account individual differences. Of course it will only lead to higher pay settlements on average, as no-one is going to agree to a pay cut.
Posted by: Matthew | May 16, 2007 11:46:44 AM
Tim - disagree
The govt now publishes a tax calculator where you can calculate your own rate of inflation. I am yet to meet anyone who experiences a lower rate of household inflation than the 'official' figures.
The published figures exclude so many day-to-day items as to have become meaningless.
The actual rate of inflation is much higher than the 3% official figure.
The BoE needs to rapidly raise rates to combat rising inflation. 7% will be needed.
Posted by: pommygranate | May 17, 2007 12:27:11 AM
