There’s a real risk that the inflation cat is out of the bag
Posted by David Smith at 09:00 AMCategory: David Smith’s other articles
My regular column is available to subscribers on www.thetimes.co.uk This is an excerpt. Not to be reproduced without permission.
As inflation shocks go, the one unveiled a few days ago was quite a big one. The jump in consumer price inflation from 2 to 3.2 per cent in August was, according to official statisticians, the largest ever recorded increase in the rate, though the data only goes back to January 1997.
For those who still follow the retail prices index, and I know from my mailbag that many do – though the Office for National Statistics would rather they did not – inflation on this measure rose to 4.8 per cent, from 3.8 per cent. The RPI isRead More »