Inflation: The Great "Lurch Up"by Adrian Ash
BullionVault
Monday, 10 September 2007
"...The average weekly shopping bill is set to rise by 30% between now and Christmas in the United Kingdom..."
ADAM LEYLAND, editor of The Grocer – the food & drink industry's favorite weekly reading here in the United Kingdom – says the cost of the average Briton's weekly shopping bill could rise 30% by December.
Thirty per cent? By Christmas?
The cost of food has already risen 6% from this time last year, outpacing the official Consumer Price Index by a factor of two. And yet, even with runaway inflation set to kick in this autumn, Leyland sees the threat as just somebody else's problem.
"If I were [the UK finance minister] Alistair Darling or a pensioner, I’d be very worried," he tells the British press. So it's a good job, then, that he's the editor of a weekly business-to-business magazine instead. Right?
Maybe William Reed, the magazine's publishers, have agreed to index-link Leyland's salary to the cost of Flora – the UK's best-selling margarine. This weekend, the bright yellow goo cost 41% more per tub than it did a week earlier according to The Grocer's own data...
More...
http://news.goldseek.com/GoldSeek/1189522920.php
