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.

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