Inflation Is Double Target
Published / Last Updated on 21/03/2011
Inflation Is Double Target.
Figures from the Office for National Statistics (ONS) show that the Consumer Prices Index (CPI) rate of inflation has risen to 4.4 per cent, which is more than double the Bank of England’s target of 2 per cent. This is increase will put pressure on the Bank’s Monetary Policy Meeting (MPC) to increase rates.
The RPI inflation index rose to 5.5 per cent, up from 5.1 per cent in January. The increased inflation figures highlight how fragile the economy is as it struggles to emerge from recession.
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