inflation
Bank of England forecasts lower growth and high inflation
In his opening remarks at the press conference to launch the report, Mervyn King, the Bank’s Governor, highlighted how these uncertainties mean that inflation could turn out higher than forecast (for example if commodity prices continue to increase at a rapid pace or if inflation expectations rise) or lower than forecast (if wage increases remain low and import price inflation fades).
Economic update – October 2010
Although the UK economy grew rapidly in the second quarter (GDP rose by 1.2%) the composition of growth was a little disappointing, reports ippr's Tony Dolphin.
Inflation adds to the UK’s economic worries
News that UK inflation (as measured by the consumer prices index) eased back to 3.2 per cent in June, from 3.4 per cent in May, merits only the smallest of cheers.