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July inflation rises over double the target: CPI 4.4% % RPI 5.0% |
| August 12th, 2008 under General. [ Comments: none ]
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Telegraph
Inflation surges to 4.4pc as squeeze on consumers grows
By Angela Monaghan
Last Updated: 9:37am BST 12/08/2008
Inflation hit 4.4pc in July, more than double the Bank of England’s target, as the rising price of food and fuel continued to eat away at Britons’ consumers.
The Consumer Prices Index (CPI), the Government’s preferred measure of inflation, was in line with the expectations of City economists, up from 3.8pc in June, and now stands at its highest level in more than a decade.
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June Inflation Rises: CPI 3.8%, RPI 4.6% |
| July 15th, 2008 under General. [ Comments: none ]
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June CPI has risen to 3.8%, officially 90% over target, pushed up by food and oil
http://www.statistics.gov.uk/pdfdir/cpi0708.pdf
http://www.statistics.gov.uk/pdfdir/cpinr0708.pdf
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Low-cost clothes era could be nearing end |
| July 13th, 2008 under General. [ Comments: none ]
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Source: ft.com
By Tom Braithwaite
Published: July 11 2008 22:57 | Last updated: July 11 2008 22:57
Supermarket shoppers have struggled painfully for a year with the impact of price inflation, being forced to pay more for staples such as bread, rice and milk.
At the same time, though, they have at least been able to take comfort from the price of clothing and other non-food goods remaining reassuringly low.
But now the era of cheap Primark-style fashions could also be drawing to a close, with the inflation that has taken a toll on household food budgets expected to be mirrored elsewhere on the high street.
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Cost Of Living Up 11% |
| June 23rd, 2008 under General. [ Comments: none ]
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Source: The Mirror
EXCLUSIVE Mirror index shock increase Food up 14% Transport up 16% Utilities up 13%
By Ruki Sayid 23/06/2008
Inflation has hit 11.6 per cent, nearly four times the official figure, a shock Mirror index reveals today.
Transport costs are up 16 per cent, food 14 per cent and utilities 13 per cent, wiping out lower prices elsewhere.
A weekly basket of 25 items taken from retail bible The Grocer now costs £2,067 a year - £263 more than last June.
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Fuel Drivers offered inflation busting 14% rise over 2 years |
| June 18th, 2008 under General. [ Comments: none ]
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Source: BBC
Fuel drivers offered 14% pay rise
Drivers during the fuel strike
The strike by 640 tanker drivers disrupted fuel supplies across the UK
Tanker drivers delivering fuel for Shell have been offered a 14% pay increase over two years after their four-day strike hit UK fuel supplies.
The increase will be worth 9% in the first year and 5% in the second, taking average annual earnings to £41,750.
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Gas Bills to soar 40% by year end!! |
| June 18th, 2008 under General. [ Comments: none ]
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Source: BBC
Energy bills could go up by 40%
Kettle on a hob
Energy bills could rise from £1,050 on average to almost £1,500
Household energy bills could increase by as much as 40% this winter, the BBC has learned, as oil and wholesale gas prices hit record highs.
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May Inflation Rises - CPI 3.3%, RPI 4.3% |
| June 18th, 2008 under General. [ Comments: none ]
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CPI Inflation, the measure the Bank Of England are targetted with controlling has risen again to 3.3% - 65% above the 2.0% target, and could hit 4% or more by the year end!!
Source: Bank Of England
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Bank of England is ‘failing on inflation’ |
| June 14th, 2008 under General. [ Comments: none ]
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Source: Telegraph
Only one in five members of the public believes the Bank of England is doing a good job controlling inflation, its own survey has shown.
In a blow for Mervyn King, who recently started his second term as Governor, the Bank found it currently has a net satisfaction rating of just 22pc - the lowest since its comparable records began in 1999.
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Bank Of England to lose ‘Independence’ |
| June 6th, 2008 under General. [ Comments: none ]
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Source:
Independant
A panel of City insiders will be brought in by the Government to monitor and advise the Bank of England through impending financial trouble, in an almost unprecedented challenge to the authority of the Bank’s Governor, Mervyn King.
The plan is part of an overhaul outlined by the Chancellor Alistair Darling to place financial stability “right at the front” of the Bank’s operations. Mr Darling told Parliament yesterday that “we should learn from the example of the monetary policy committee” in which outsider experts help make interest rate decisions.
But the move will be seen as a significant blow to Mr King, who some blame for failing to adequately foresee the Northern Rock fiasco, a repeat of which the latest Government reforms are designed to avoid. Experts said last night that the introduction of an outside panel from the City constituted the biggest challenge to a governor’s authority since the Bank’s independence a decade ago, when Sir Eddie George threatened to resign over banking supervision.
By James Macintyre
Friday, 6 June 2008
There are signs that the proposal came as part of internal political wrangling at the Bank, specifically over the choice of deputy governor for monetary policy to replace Rachel Lomax. The panel was seen as a possible quid pro quo for Mr King’s choice of Charles Bean, the Bank’s chief economist. In return, ministers are said to be determined to install more outside advice on the Bank, potentially threatening the position of Mr King and Sir John Gieve, the deputy governor for financial stability.
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IMF says there is no scope for rate cuts |
| May 24th, 2008 under General. [ Comments: none ]
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Source: http://business.timesonline.co.uk/tol/news…icle3995423.ece
Gary Duncan, Economics Editor
The Chancellor’s hopes that a swift revival in the economy by next year will limit damaging political fallout from rapidly weakening growth were dealt a series of blows last night by the International Monetary Fund (IMF).
In its latest annual economic health check on Britain, the IMF gave a warning that, despite the slowing economy, inflation dangers meant that the Bank of England had no scope for more interest-rate cuts in the near-term to underpin flagging growth. Interest rates could need to rise should any signs emerge of inflation-busting wage deals that could stoke the continued threat from price pressures.
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CPI Inflation likely to stay above 3% in the near future |
| May 14th, 2008 under General. [ Comments: none ]
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Bank of England governor Mervyn King has suggested that inflation will stay above the “official” measure of 3% for the near future, but it has been hinted that rates will not be coming down.
Have the MPC decided to ignore inflation after all to save the economy built on debt and lies?
Seems so!
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April 2008 CPI/RPI inflation up to 3.0 for CPI and 4.2 for RPI |
| May 13th, 2008 under General. [ Comments: none ]
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Mervyn King, get your pen out.
When will the clowns in the MPC realise that they need to increase Interest Rates not drop them.
We are going into recession and that is not stoppable by interest rate drops, asthe the country has a HUGE debt burden and cannot continue to borrow from the future to spend on the now!.
Dropping interest rates is going to make inflation even worse especially as there is little WAGE inflation. We will all end up having to spend more of our disposable income on food and energy, and business will up sticks and more to cheaper producing countries.
Remember MPC, high houses prices are not a good thing - so don’t bother trying to prop that up.
Lower house prices = more for todays and future buyers to spend on the highstreet!!
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Basic Sky Package Rises 33% |
| April 30th, 2008 under General. [ Comments: none ]
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Skys basic package, which was £15 per month, has now risen to £19.95 - a rise of 33%.
More inflation along with food, petrol, gas, electric, council tax.
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Petrol Prices at RECORD high |
| April 29th, 2008 under General. [ Comments: none ]
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Petrol:
Oct 2007 - 87p
April 2008 - £1.08
June 2008 - £1.15
Aug 2008 - £1.12
Diesel:
Oct 2007 - 87p
April 2008 - £1.18
June 2008 - £1.30
Aug 2008 - £1.26
Now this IS inflation!!!
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February CPI Inflation hits 2.5% |
| March 18th, 2008 under General. [ Comments: none ]
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http://www.bankofengland.co.uk/index.htm
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Jan CPI 2.2% (up from 2.1%), RPI 4.1% (up from 4.0%) |
| February 12th, 2008 under General. [ Comments: none ]
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http://www.statistics.gov.uk/pdfdir/cpi0208.pdf
I guess food, petrol, gas, electric, water don’t count towards CPI, as they’ve all risen massively recently.
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MPC drop rates in February to 5.25% (from 5.5%) |
| February 12th, 2008 under Inflation Stats. [ Comments: none ]
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See title 
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Eurozone inflation at new record in January |
| January 31st, 2008 under Inflation Stats. [ Comments: none ]
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Source: News.bbc.co.uk
Official data has shown that Eurozone inflation has surged to a new record at 3.2%. This is much higher than the ECB 2% target. Normally inflation is controlled by increasing interest rates, but with the economy already slowing and the potential of the US heading into a recessions, the ECB will have tough decisions to make.
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EDF Energy hike Electric & Gas (7.9% & 12.9%) |
| January 15th, 2008 under General. [ Comments: none ]
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Source: Yahoo.com
Utilities firm EDF has become the latest in line to put up its electricity and gas prices.
The French-owned firm says prices are to go up from Friday (18th January) - electricity tariffs up by 7.9% and gas by 12.9%.
EDF has 5.5m account holders in the UK.
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Fastest rise for 17 years in factory gate prices |
| January 15th, 2008 under Inflation Stats. [ Comments: none ]
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Source: Telegraph
By Edmund Conway, Economics Editor
Last Updated: 6:48am GMT 15/01/2008
Prices charged by manufacturers are rising at the fastest rate in almost 17 years - in the latest sign that inflation remains a major threat to the British economy.
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