The announcement by the Bank of England is a blatant misleading of the real rate of Inflation. It is based on on an increase in Consumer Price Inflation (CPI) when Companies are increasing their costs to the people of Britain on the basis of the increase of the Retail Prices Index ( RPI )
The latest published figures in June clearly show the difference:
In June 2022 CPI was 9.1% whilst the increase in RPI was 11.8 %
The expended figures in September will rocket for both at a time when Energy costs are based on CPI whist consumers prices are based on RPI !
All Major Companies such as Energy, Amazon, Tesco, Asda, Sainsbury's and the 10% of the the population who own 90% of the wealth of the United Kingdom should pay 90% tax on all their profits
Arthur Scargill
Socialist Labour Party 4/8/2022