3BN

Funny old world we live in. It’s been half a century since the D word has been bandied about in the UK - deflation that is.

What is deflation - it’s the opposite of inflation, prices falling as opposed to rising. Pretty simple one might think.

The Retail Price Index (RPI)  was 0.4% lower in march than it was it was in march 2008.

Used to be one knew what was in the basket of goods that the RPI was based on - these days one hasn’t a clue.

Meanwhile back in the real world, Tesco announced profits of £3 billion, on sales of £41 billion. In the UK.

Funny that as prices are coming down, Tesco is still raking in record profits.

How do they do that?

Don’t ask is probably the answer!