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Don’t trust the official inflation rate of 3.3%, warns John Major – it could be as high as 10%
Posted By admin On July 14, 2008 @ 4:50 am In Money Watch | Comments Disabled
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%.’
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URLs in this post:
 UK Daily Mail: http://www.dailymail.co.uk/news/article-1034683/Dont-trust-official-inflation-rate-3-3--warns-John-Major--high-10.html
 Former Treasury Official who Devised Formula for Rate-Setting Based on Outlook for Inflation and Growth Warns that Inflation Looms, Slams Fed Policy: http://www.prisonplanet.com/former-treasury-official-who-devised-formula-for-rate-setting-based-on-outlook-for-inflation-and-growth-warns-that-inflation-looms-slams-fed-policy.html
 John Paulson’s Scary Speech: Double Digit Inflation By 2012, Gold At $4,000: http://www.prisonplanet.com/john-paulsons-scary-speech-double-digit-inflation-by-2012-gold-at-4000.html
 The Inflation Rate Is A Lie Too: http://www.prisonplanet.com/the-inflation-rate-is-a-lie-too.html
 Inflation rises unexpectedly to four-month high: http://www.prisonplanet.com/inflation-rises-unexpectedly-to-four-month-high.html
 Drivers face green tax rises at twice the rate of inflation: http://www.prisonplanet.com/drivers-face-green-tax-rises-at-twice-the-rate-of-inflation.html
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