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Inflation rises thanks to Gordonomics

Gordon's snot covered fingers have made a mess of the economy.
Gordon Brown's attempt to turn the election agenda back to the economy appeared to backfire today after inflation rose higher than economists had forecast.

Official figures revealed today revealed sky high petrol prices sent annual inflation soaring to 3.4 per cent last month after a faster than expected rise in the cost in living,

Consumer Prices Index (CPI) inflation leapt up from 3 per cent in February after petrol prices rose by 2.7 per cent in the month, according to the Office for National Statistics (ONS).

The CPI rise - bigger than economists had forecast - presents a headache for the Government at the start of a crucial week for economic data in the General Election battle.

The data is the first in a flurry of economic indicators in what could be a decisive week in the General Election campaign, culminating in the eagerly awaited estimation of first quarter gross domestic product on Friday.

Before then, there are the latest statistics on unemployment, minutes of the last interest rate meeting, retail sales and borrowing figures for the full financial year.

No doubt some more staff will be bullied later before Gordon storms off to the bunker for his MAOI's and a spot of mobile phone throwing. 

2 people have spoken:

Antisthenes said...

It is no surprise that inflation is rising with all that unearned money sloshing about the UK and the rest of the world.

You can not print or borrow money and think nothing bad is going to happen.

You ain't seen nuffing yet.

Anonymous said...

Quick and dirty