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Inflation to reach 4.3%, says survey
Article Category: Debt Management Help and Advice
Brits fear the cost of living will rocket by more than double what is being suggested by the official figure, new research has found.
A new Bank of England (BoE) survey indicated Britons fear the average rate of inflation rate will be 4.3 per cent within the next 12 months, compared to the BoE target of two per cent.
The Times reports that the results of the survey suggest the public are feeling the strain of the rising cost of petrol, food and energy during the current economic climate.
Howard Archer, chief European economist at Global Insight, said he believes the next move in interest rates will be down.
"But the sharp rise in inflation expectations in May reinforces our view that the Bank of England will not be prepared to relax monetary policy for many months to come," he added.
Meanwhile, the Guardian reported this week that those struggling with
debt problems could be hit by further energy price rises.
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Created on 13/06/2008 15:09:55
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