More bad news from the U.K. Inflation is staying steady and strong.
LONDON (Reuters) – Britain’s inflation rate unexpectedly held steady for the fourth consecutive month in January but there was little respite for consumers as it remained at its highest level since May, official data showed on Tuesday.
Annual consumer price inflation stayed at 2.7 percent last month, the Office for National Statistics said, slightly below the 2.8 percent median forecast in a Reuters poll of economists.
It is the first time inflation has remained unchanged for four months since records began in 1996, the ONS said.
As stated before, the actual inflation rate isn’t all that bad in a growing economy. But, the U.K’s real economy hasn’t grown for some time now.
There are a myriad of approaches to attack this problem, but, I’m convinced one should focus on the economic growth rather than the inflation. I mean real growth, not the Japanese version of it. (Planting windmill might not be the solution.)