Tuesday, 18 January 2011
Pressure mounted on the Bank of England to raise interest rates as inflation in December jumped from 3.3% to 3.7%, fuelled by an increase in the cost of air travel, fuel, utility bills and food costs.
The recent VAT increase from 17.5% to 20% raises the prospect of a further rise.
For further information on economics stories, click on either the Higher Economics or Interemediate Economics pages of the blog.
Posted by Mr Alexander at 21:10