What's really driving inflation
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The Government's preferred measure of inflation, the Consumer Price Index,or CPI, recorded a 1.9% rise in March from 12 months before - just 0.1% below the Bank of England¹s inflation target.
This means the Old Lady might raise interest rates again and that might finally putting a stop to what¹s really driving inflation: the massive growth in the supply of money.
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The M4 measure includes all notes, coins and sterling deposits held at UK banks. It's grown more than 9% in the last year. No wonder the pound won't buy what it used to!
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