Tuesday, 16 September 2008

Inflation up and down, but mainly up

Today the Bank of England has announced....

CPI is 4.7%, up from 4.4% last month,
RPI is 4.8%, down from 5.0% last month.

The CPI target is 2.0% and a very generous government allows a 1.0% margin on that. Still Mervyn King and his fellows on the MPC seem unable to hit anyway near the target - probably because they are not even bothering to try.

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