Via the Telegraph: The Office for National Statistics said its consumer prices index (CPI) measure of inflation rose to 2.6pc in July from 2.4pc in June, driven by a 21.7pc rise in the cost of flights which saw overall transport prices rise by 1pc. And via ToryOutcast: “UK inflation jumps unexpectedly in July”. Oh yes, completely unexpected that…http://bit.ly/Pgdp1H  (@SteveBakerMP) Good to know that my reader isn’t surprised by inflation. A pity that the people who manage the money supply are.

Tags: Central Banking, economics, Incompetence, Inflation, Money Su