UK: David smith - Economic truths - With a smile and with a discount - Retailers have been steadily cutting ...

UK: David smith - Economic truths - With a smile and with a discount - Retailers have been steadily cutting ... - David smith - Economic truths - With a smile and with a discount - Retailers have been steadily cutting the price of goods, but interest rat

by DAVID SMITH, Economics Editor of the Sunday Times.

David smith - Economic truths - With a smile and with a discount - Retailers have been steadily cutting the price of goods, but interest rates will not come down until the services sector follows suit.

Over the years I have noticed a curious phenomenon. Whenever I write about the low level to which inflation has fallen, I am guaranteed at least a couple of letters from people disputing the figures and pointing to all the price increases (usually rent, rates, rail fares, etc) that they have faced.

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