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Posted 16-02-2017 15:42
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I would like raise the subject of negative prices. As an economist I have found myself facing negative interest-rates and bond yields in more than a few places but at lunchtime a negative price appeared. At Tesco's then you can buy a tin of Ambrosia custard for £1.04 or two of them for £1 which means that the second one has a marginal price of - 4 pence!
I understand that the official inflation data ignores offers of this sort but if we look at this there are genuine issues if the price recorded is £1.04 when logically everyone would take two tins and the average price is 50 pence.
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