In two successive days, we've had news of increased costs: Increased Gas prices to the tune of 20% and increased food costs of 5%.
So why is the Bank of England maintaining the CPI is only in the region of 4%?
Months ago I blogged that food prices had increased just after Christmas by around 10%, fuel prices are still creeping upwards, Car Insurance has increased this year by 25%, thanks to the stupidity of a government that thinks enforced insurance will reduce premiums.
So with all of these double digit price increases in the real world, prices are vastly outstripping the official measure of inflation. Isn't it time the CPI was reviewed or scrapped and replaced with a better measure?
The recession continues apace, inflation ticks ever upward and our government demand an ever higher tax take.
Anyone want to place bets where this is going to end?
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