I see that the truth about inflation is spreading. Whilst "Big discounts in the January sales kept a lid on inflation but economists warned that prices are set to rise sharply in coming months as rising food, energy and utility bills continue to ratchet up the cost of living... the latest government prices data would provide only a temporary respite for the Bank of England's rate-setting committee, ahead of the publication later today of its quarterly Inflation Report."
With even the government's artificially low of measure of inflation above the target, the room for the Bank of England to reduce interest rates is reduced; so as I have said before, we can look forward to inflation, a falling pound and a stagnating economy - in other words a good old-fashioned Labour run economic disaster.
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