Rogers: US and UK are lying about inflation

The UK and US are 'lying' about rising inflation, while most other governments around the world acknowledge this is happening, says Jim Rogers.

Speaking to CNBC, Rogers, who founded the Quantum fund with George Soros in 1970, says investors must prepare themselves for ‘much higher prices' as inflation gets worse. He says: "Most governments acknowledge it - India, China, Norway, Australian, Taiwan - it is only the UK and the US who say there is no inflation, but they lie about it." Rogers says the renminbi is the only currency he would buy at the moment, although he also owns the Malaysian ringgit and Singapore dollar. "Over the next decade or two the renminbi is going to go up 300%-400%, so do not sell the renminbi, go out...