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irishone
15 Oct 21 14:42
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Date Joined: 22 Sep 06
| Topic/replies: 47,349 | Blogger: irishone's blog
Likely to hit Britain worse !

The British disease of the 1970s is back, and there's no cure is in sight

When in a dark place, people don't want to hear that it is all about to get darker still; they want hope and optimism. That's what Boris Johnson specialises in. The Prime Minister is the living embodiment of the old stock market saying that it is better to travel hopefully than to arrive. The problem faced by the ever sunny Boris is that the destination is already looming into sight, and it doesn't look good. In the clinically calculated world of financial markets, the expectation is that inflation as measured by the Retail Price Index will hit 7 per cent by next April, a level not seen since the late 1980s. The disease that dogged the UK economy through much of the previous two decades – high inflation – shows unnerving signs of returning. Ministers these days prefer to set their watch by the slightly less alarming Consumer Prices Index, but even this is rising fast. RPI, moreover, is still the measure used to determine rail fares, interest on student loans, the coupon on inflation-linked Government debt, and a wide range of similarly linked government contracts.
The Inflation tsunami > Betfair Community > Politics
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