Further to yesterday's
post on inflation, the
BBC website is now reporting:
UK inflation rate rose to 3.5% in January - the fastest annual pace for 14 months - from 2.9% the month before, official figures have shown.
Consumer Prices Index (CPI) inflation was driven up by VAT returning to 17.5% and higher petrol prices.
Retail Prices Index (RPI) inflation which includes housing costs, rose up to 3.7% in January, up from 2.4%.
Bank of England governor Mervyn King has had to write a letter of explanation to the chancellor.
That means that the pound in your pocket is going to be worth a lot less very soon. Accordingly the Druid is heading off with his shovel to Rhos-Mynach Mawr and Parys Mountain where, according to the National Museum of Wales
Mineralogy Database, he can find gold!
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