Inflation in March rose to 7% but April figures will include 54% increase in energy price cap
It is the Bank of England’s job to hit the government’s 2% inflation target, so from the perspective of Threadneedle Street policymakers there are a number of worrying aspects to the latest cost of living figures.
Let’s start with the obvious: the annual inflation rate rose from 6.2% to 7% last month and is now at its highest level since early 1992: that’s a long way north of the official target.
Continue reading...from The Guardian https://ift.tt/gx61cNI
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