Headlines You Didn’t Read Today, Inflation Edition
Here’s what the Guardian didn’t write about the inflation numbers today, though I’m not sure why:
Inflation has slipped to its lowest level in two and a half years, in another piece of bad news for Britain’s recession-hit households.
Though inflation is still well above the government’s target of 2%, the fall should help to reassure policymakers that they can take more action to borrow and spend without sparking a renewed surge in prices.
Some members of the Coalition Government have previously expressed caution about deficit spending, warning that it could push up inflation, but world commodity prices have been falling in recent weeks amid fears about a slowdown in the world economy. Wednesday’s minutes from the Government’s Aggregate Demand Management Committee June meeting will show whether any members were calling for more deficit spending.