On October 17th I wrote that in November or December this year, inflation would pass the 3% threshold needed to trigger a letter from Bank of England chief Mark Carney, predicting:
Carney’s letter will be deeply pessimistic about Brexit, so the BBC will report it as the top story with two or three articles of “analysis” where they cherry pick some other statistics to mislead the nation once again. Several days later Laura Klueless will ask the chancellor some stupid questions and whatever the answers are the BBC will present it as being further proof that Brexit is destroying the economy.
We are still awaiting the letter, but the BBC have done exactly what I said they would so far.
My favourite analysis/propaganda from these articles is: “The price of the festive grocery shop has spiralled this year…Brussels sprouts are up 8.4%”. So what are they now, 10p to 20p more expensive? Better cancel Christmas. A close runner up is: “What is the point of capitalism?”. Gosh!
Just wait for the letter; will my remaining predictions come true?
The issuers of the inflation data state “The largest upward contribution to change in both the CPIH and CPI rates came from air fares which fell between October and November but by less than a year ago.”
Hardly the most significant item of expenditure for the “hard pressed” households.
Agree totally NISA
Pulled this from the office for national statistics page..
Statistical bulletin: UK consumer price inflation: November 2017….
The Consumer Prices Index including owner occupiers’ housing costs (CPIH) 12-month inflation rate was 2.8% in November 2017, unchanged from October 2017.
The Consumer Prices Index (CPI) 12-month rate was 3.1% in November 2017, up from 3.0% in October 2017; it was last higher in March 2012.
The largest upward contribution to change in both the CPIH and CPI rates came from air fares which fell between October and November but by less than a year ago.
Rising prices for a range of recreational and cultural goods and services, most notably computer games, also had an upward effect..
Air fares, computer games and services, Don’t see “Christmas food” in it ,
Unlike the BBC news report web page..
Fake news again ?