Wednesday, November 19, 2008
Price Rise Correction
Yesterday's reporting of the inflation figures left something to be desired. Both Sky and ITN they reported that prices had dropped (due to the drop in inflation to 4.5%), when in fact it's the rate of increase that has slowed (but still way out of the BoE target range). Both channels then talked to shoppers who complained that prices haven't dropped. Even ITN's Economics Editor (Daisy McAndrew) was talking of falling prices! While it is true to say that some commodities, like petrol, have fallen in price, the prices of most things are still rising. Is it too much to ask for politics and economic journalists to get their terminology right?