Interesting Inflation News Links (May 06, 2009)

* Shop price inflation falls on slower food prices (James Thompson, The Independent Online)

Shop price inflation fell in April for the first time since the cut in VAT in December, as hefty non-food discounting at Easter, sharp price deflation at fashion and footwear retailers and the first slowdown in food prices this year gave customers a welcome boost.

* 1.7 million fewer pints drunk every day this year due to recession (Harry Wallop, Telegraph)

In the first three months of this year the equivalent of 1.67 billion pints of beer were drink in Britain a fall of 8.2 per cent, or 1.7 million pints a day on the first quarter of last year.

* New Study Accuses Bankruptcy Judges Of Routine Illegality (Nathan Koppel, Wall Street Journal)

Bankruptcy lawyers are fat and happy these days; that much we have documented. (Click here and here .)

* Hey, Hell’s Kitchen! Suck It! (Patrick Alan Coleman, Portland Mercury)

Ive been known to watch an episode or two of Hells Kitchen . Im not proud of it. But as the Bible says, Let those whove never suffered bad television judgment throw the first remote.

* China fears bond crisis as it slams quantitative easing (Ambrose Evans-Pritchard, Telegraph)

policy mistake made by some major central bank may bring inflation risks to the whole world,” said the People’s Central Bank in its quarterly report.

* Fed, Bernanke mulled unconventional options in ’03 (Jeannine Aversa, News Tribune)

Ben Bernanke has done something no other Federal Reserve chairman has done before: cut rates to near zero and resorted to unconventional tools to lift the country out of recession.

* Rich Lowry: Obama, Bush have one thing in common: Bold, risky agenda (Rich Lowry, Sacramento Bee)

If Barack Obama’s presidency were to end on Day 101, it would be a smash success. He’s popular, the nation’s mood is lifting, he’s adored abroad, and he has already put his stamp on economic policy.

* Getting SS? Plan for no “raise” in 2010 (Andrew Chan, Boston Globe)

It was recently announced that the 50 million people currently receiving social security benefits would see no cost of living increase in their payments for 2010. This would be the first time in over 30 years that there was no such increase and it comes on the heals of a 5.8 percent increase in 2009 — the largest increase in over 25 years.

* More homes get multiple offers; downturn may be nearing end (Mary Altaffer, USA Today)

More homes for sale are attracting multiple offers as buyers pursue lower-price homes and banks low-ball asking prices to attract competing bids on foreclosures.

* Romania Lowers Rates by Half Point (Christopher Emsden, Wall Street Journal)

Romania’s central bank cut interest rates more than expected Wednesday, lowering the official policy rate to 9.5% from 10% in a cautious bid to help revive economic growth.


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