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The Bank of England is under renewed pressure to raise interest rates after latest figures showed inflation has risen to 4 per cent, double the government's target.
THERE was renewed pressure on the Bank of England to raise interest rates today as inflation increased to its highest level in more than two years in January.
INFLATION is set to remain stubbornly high in fresh figures to be published this week, giving no relief to beleaguered interest rate-setters at the Bank of England.
The cost of living continues to rise, but there are many ways you can fight back, writes Teresa Hunter
THE cost of living is continuing to rise well above target, as new figures yesterday revealed how consumers are being hit by the "stealthy enemy" of inflation.
Inflation may have marked time last month at 3.1 per cent, suggesting some stabilisation in a key economic measure. But little comfort can be taken. It represents yet another month when the Consumer Prices Index has run well above the Bank of England's 2 per cent target - one now effectively in abeyance.
BANK of England governor Mervyn King will this week write a fresh letter to Chancellor George Osborne explaining why inflation is so far above target.
Interest rates could rise to 8 per cent by 2012 if inflation gets out of control, a think tank warned yesterday.
IN A week when Mervyn King had to write yet another letter to the Chancellor explaining why inflation is above the official target, it is understandable that questions are being asked.
BANK of England governor Mervyn King warned yesterday that inflation would remain high throughout most of 2011, indicating he is more concerned about the strength of the recovery than spiralling prices.
APPARENTLY we are not going to get inflation – deflation is the real threat.
THE coalition government received its first good news on the economy yesterday when it emerged that inflation fell significantly in May.
INFLATION has risen to its highest level in 17 months, putting increasing pressure on families' budgets.
RISING food prices and Budget duty increases saw inflation by a 17-month high for the month of April.
BANK of England Governor Mervyn King will have to explain himself to the new Chancellor today as rising petrol costs push up the cost of living.
BANK of England rate-setters are expected to maintain their "wait and see" stance tomorrow despite growing fears of a spike in inflation.
PEOPLE aged between 50 and 64 continue to face an inflation rate 50 per cent higher than the official level of 3 per cent, new figures show.
CHANCELLOR Alistair Darling gained a pre-Budget boost yesterday after a sharper-than-expected fall in inflation in February.