E-viri
-
Burtenshaw, Andrew
The Financial times (London ed.), 04/2007Newspaper Article
As the chancellor stated in his reply, the monetary policy committee is expected to "set Bank rate to keep inflation on track to meet the 2 per cent target in the medium term". But, there is a fundamental problem with the chancellor's chosen measure of inflation (the consumer prices index). Virtually everyone is experiencing actual inflation a good deal higher than the reported 3.1 per cent rise in the March CPI. For example, the old retail prices index is now rising at an annual rate of 4.8 per cent.
