UK inflation turns negative for first time since 1960
Source: AFP
London (AFP) - Britain's annual inflation rate sank into negative territory last month for the first time in more than half a century, official data showed on Tuesday.
The rate hit minus 0.1 percent in April, the Office for National Statistics (ONS) said in a statement, risking a period of deflation for Britain's economy.
Prices were pushed into negative territory on the back of falling transport services -- notably air and sea fares -- and the earlier timing of Easter.
That was the lowest rate on record -- since the data series began in 1996 -- and comes after two previous months of zero inflation.
Read more: http://news.yahoo.com/uk-inflation-turns-negative-first-time-since-1960-085306752.html
CountAllVotes
(20,854 posts)European Banks As Likely To Fail Now As In 2008? Bail-ins?
New research shows that European banks are as likely to fail today as they were preceding the global economic crash seven years ago.
Leading economists say that the European banking system is still highly vulnerable to financial and economic shocks despite the various policies which have been put in place to protect against such events since the collapse in 2008.
According to research by the University of Portsmouth Business School which was published in the Journal of Banking and Finance European banks are as vulnerable today as they were in the run up to the crisis of 2008.
The research suggests that southern European banks particularly those of France, Italy and Spain are highly vulnerable to failure.
http://www.goldcore.com/ie/gold-blog/european-banks-as-likely-to-fail-now-as-in-2008/?utm_content=15121836&utm_medium=social&utm_source=twitter
Noting that word GOLD *again*.
All is NOT WELL in the EU!!
& recommend.
DallasNE
(7,392 posts)Europe is suffering its own trickle down where poorer nations like Spain, Italy and even France are seeing the richer nations like Germany accumulate the wealth with the help of the central bank. How long before they wake up to the failure of austerity as the UK is now teetering on the brink of deflation like has plagued Japan for the last generation.
davidpdx
(22,000 posts)Fucking conservatives...........
mountain grammy
(26,568 posts)Fucking conservatives.......
davidpdx
(22,000 posts)To be a conservative in the US you have to be batshit crazy.
wolfie001
(2,131 posts)The Stranger
(11,297 posts)The scourge of all?
ToxMarz
(2,154 posts)http://www.theguardian.com/business/2015/may/19/is-this-deflation-or-negative-inflation-qa
Our economics editor, Larry Elliott, says what we see in the latest figures is not deflation.
"Deflation is a generalised and sustained fall in prices, not a brief dip into negative territory on the back of moves in the oil price or one-off factors such as the timing of Easter, which has played a role in these latest figures. If core inflation were falling it would be deflation.
Philip Shaw, economist at Investec agrees.
"The title of the ONS note UK enters deflation released this morning suggests the UK statistics office put todays numbers in this category. However, we prefer to classify this as negative inflation, with deflation more strictly defined as a period of falling prices that are both sustained and general (i.e. not restrained to one or two sectors). Our own view is that this negative April print will not turn into a sustained run.
Sgt Preston
(133 posts)1GBP = 1.55 USD.
muriel_volestrangler
(101,146 posts)Sgt Preston
(133 posts)muriel_volestrangler
(101,146 posts)$1.55/£1 is typical.
roamer65
(36,739 posts)They will probably start to consider an tax on savings and start talking about banning cash.
Saving used to be encouraged, now they are going to make it near criminal.