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Don’t trust the official inflation rate of 3.3%, warns John Major – it could be as high as 10%

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James Chapman
UK Daily Mail
Monday, July 14, 2008

Families are being hit by a real rate of inflation as high as 10%, Sir John Major has claimed.

In a rare intervention in domestic politics, the former Tory prime minister and chancellor said the Government’s official inflation measure, the Consumer Price Index, could not be trusted.

He attacked Labour for taking housing costs and council tax out of inflation calculations. It made the CPI, on 3.3% in May, ‘extremely misleading’.

(Article continues below)

Sir John told the BBC’s Andrew Marr Show: ‘If you look at what’s happening to food, to heating, to the expenditures most people cannot avoid, inflation is probably between 8 and 10%.’

Full article here

This article was posted: Monday, July 14, 2008 at 4:50 am





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