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Tuesday, March 22, 2011

Inflation Own Goal

On the eve of the Budget, allegedly one designed for "growth", George Osborne has been hit by the unwelcome news that CPI inflation has risen to 4.4% in February and RPI has risen to 5.5%.

This of course, as I have noted before on this site, is not unexpected given that VAT was raised to 20% in January.

As such this inflation is an own goal scored by Osborne.

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