I warned before the last Bank of England rate cut that inflation was going up this yea. The Bank should take its anti inflation duty more seriously. The CPI is up 3%, 50% over target. It will get close to 4% later this year. The government is causing a lot of the inflation. Bus fares…
I warned before the last Bank of England rate cut that inflation was going up this yea. The Bank should take its anti inflation duty more seriously. The CPI is up 3%, 50% over target. It will get close to 4% later this year.
The government is causing a lot of the inflation. Bus fares up from cancelling a subsidy. Rail fares to go up to help pay for a big inflation busting pay award by a nationalised industry. Managed energy prices up. Services going up thanks to big increase in employment costs from the jobs tax. Regulated Water bills up massively. VAT on school fees. Housing costs up 8% thanks to attacks on landlords and restricted supply. Food costs up as family farm businesses threatened with business killing tax rises.
Stagflation is well set in. Around Zero growth for the last half year and 3% inflation. Last summer we had topped the G 7 growth league for the first half of the year and inflation was 2%
