The Phaserl


Pete Comley: Inflation is still a major problem

by Jan Skoyles,

This week Bank of England boy wonder may find himself flung out of the honeymoon suite when the UK’s CPI figures are released tomorrow. Rumoured to be at a 15-month high, the new Governor is likely to face some pressure given his indication following the last MPC meeting that easy monetary policy would carry on for some time. Should CPI be at a 15-month high in the official reading tomorrow it is unlikely to be a realistic indication of the real rate of inflation.

This is not a trend unique to the UK. In the US, Americans are repeatedly told by Bernanke that inflation is too low. However, a recent article, featured by Zerohedge, highlighted what inflation really looks like in the US:

Eggs: 73%
Coffee: 90%
Milk: 26%
A Loaf Of White Bread: 39%

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