Sunday, 11 January 2015

Inflation set to drop below 1%

Figures due on Tuesday are expected to show a further decline in Britain’s inflation rate. Analysts believe that the falling cost of food, petrol and the absence of any year-end rise in household energy costs pushed down inflation to between 0.5% and 0.8% in December, from 1% in November. As a result, Bank of England governor Mark Carney will write to the chancellor to explain why inflation has fallen outside the target range and to say what the Bank proposes to do to bring it back towards 2%.

It is a good news for those who are quisling over budget.

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