The Live Wire



Press Release

INFLATION – “NO NEED TO HIT PANIC BUTTON”

20 March 2007

Reacting to the inflation figures published by the Office of National Statistics today (Tuesday) British Retail Consortium Director General Kevin Hawkins said:

“CPI inflation is up but the main drivers are rising housing and education costs. The BRC’s Shop Price Index, which is a more rigorous and accurate measure of high street inflation, shows shop prices rose year-on-year by a much more modest 1.79 per cent in February. That was confined to food and caused by temporary increases in world commodity prices which are already receding.

“In non-food categories price inflation is virtually non-existent.

“RPI inflation is being pushed up by increases in energy and housing costs, both well outside the control of retailers or consumers.

“There is no need for the Bank of England to hit the panic button for an early interest rate rise on the basis of these figures.”



Press releases, papers and documents published on this page are the intellectual property of an organisation unrelated to Central Lobby. We promote their parliamentary and political campaigning activities as they are subscribers to the Central Lobby service.

As such, Central Lobby does not edit, endorse, or attempt to balance the opinions expressed on this page. The content of press releases and other such types of content are the responsibility of the originating organisation.

British Retail Consortium

More from Dods

© Dods Parliamentary Communications Ltd