Guido Fawkes is back with his inflation is here to doom us all refrain. He used to produce graphic charts to demonstrate the rate of increase in prices, yet now he’s reduced to the use of slogans, as the charts demonstrate that inflation has been static or is falling for many months.
Mind you Guido’s today’s quote of the day is absolutely spot on –
This IGIndex quote tells you of the growing disconnect between Wall St and Main St. The Bulls are still pumping, believing that inflation will bail out their inadvisable purchases. While those living in the real world know a different truth.
This afternoon’s important manufacturing data was largely downbeat as figures showed that expansion in industrial production for August was lower than forecast, at just 0.2%. Car manufacturing firms in particular have scaled back their output amidst feelings that continuing job losses will lead to a sharp fall in consumer spending.