!65,000% is the staggering annual inflation rate experienced in Zimbabwe.  This is up from around 100,000 as of January 2008. Cash is becoming worthless with prices increasing in the time it takes to get to the shops. That is providing they can afford to purchase anything, or indeed there is anything to purchase. (more…)

The Office of National Statistics (ONS) has released figures that show retail sales rose by 1% from January and by 5.5% from this time last year. The unexpected increase was attributable to higher food sales during the month.

The figures support the Bank of England’s (BoE) decision to keep interest rates on hold and that the threat of rising inflation is not going away. It also raises the question as to whether the man on the street is concerned about the credit crunch or whether it’s merely something that the boys and girls in The City get excited about.