The Daily Telegraph, July 16, Roger Bootle
This is going to be one of those weeks when the economic statistics could cause a rumble in the financial markets and beyond.
On Wednesday we get the latest inflation figures. Simply because of the drop in petrol prices, the headline rate should fall from 8.7pc to about 8.2pc. (Famous last words!)
But more important will be the core rate, which excludes energy and food prices. This may edge lower from 7.1pc to 7pc.
Not only would this not be much to write home about but even this tiny reduction is far from being in the bag.
If the core rate were to rise, this would be very bad news for interest rate prospects and hence for the finances of both households and the Government.
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