Today has surelty smashed the illusion that Labour are compentent with the economy. The Consumer Price Index, which is the government's prefered measure of inflation, has registered another increase; it now stands at 3%. This is well above the 2% target set by Gordon Brown, but this only tells half the story.
The Retail Price Index, which everyone else really measures inflation, is up to a whopping 4.4%, the highest in 15 years. Why is it that we are given the 3% figure by the government instead of the 4.4%? Well, Gordon Brown shifted the focus about 3 years ago to convert the headline inflation to CPI rather than the naturally higher RPI. Undoubtedly this was done so the silly inference of having a continually lower rate could be retained.
Fiddling the figures is something Labour do very well; crime stats are regularly manipulated. However when the economy is suffering so badly I would hope people could see through the spin and realise that Gordon Brown is not the economic genius he is portrayed as being.
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