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Inflation rate rises to 3.3 % in the UK.

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posted on Dec, 14 2010 @ 08:46 AM
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With prices for goods in the Uk going up accross the board, and VAT about to change in the new year from 17.5 to 20%, and inflation rates staying up above what we would like and expect, be in no doubt that the economic crisis is still going to be affecting your pocket for sometime yet if you live in the UK.

www.bbc.co.uk...


The inflation rate has now remained above the 2% target by one percentage point or more for 12 months, and the Bank of England's governor, Mervyn King, has had to write four letters to the chancellor this year as a result. But with the new government having announced the biggest round of budget cuts since World War II, the Bank still expects the resulting slowdown in spending to bring inflation down over the next two years. However, as the BBC's chief economics correspondent Hugh Pym said, confidence in the Bank's predictions could wane if the New Year heralds more gloomy inflation news.




posted on Dec, 15 2010 @ 12:06 PM
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If your government keeps track of interest rates like the US does, add another 25% onto that inflation rate.

In the US, food, fuel, commodities and the like are not included into the CPI or the Consumer Price Index. Funny how all the things that you use day in and day out are not even included in the inflation rate.

I look at it this way, gold has NOT gone up in value. There is still the same amount of gold and maybe even more. So if gold has gone from $400 or so and is now at $1400 or so, that means in the past three years, the REAL inflationary rate is more like15%-30% or so.

The collapse of the housing market and treasuries has caused deflation in some markets and has driven others to extremes, especially the ones that are day to day necessities.

Ain't that special.





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