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Tuesday, 18 May 2010

Inflation Shocker! Or is it a Shock?

CPI hits 3.7%, but wait RPI (retail price inflation) is over 5% now

The Times Online reports "Retail price inflation — which is more commonly used in wage negotiations with employers — rose to 5.3 per cent, the highest year-on-year increase since July 1991. The RPI figure compared with 4.4 per cent in March and City expectations of 4.9 per cent".

Call me ecomically stupid, but pumping £200bn of new money into the economy and keeping artifically low interest rates of 0.5% must have some effect on inflation?

So with the RPI at 5.3% and expectations of public sector wage freezes (at best) when will the strikes start in the UK?

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