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Inflation fears grow before publication of Bank minutes

first_img Show Comments ▼ whatsapp Inflation fears grow before publication of Bank minutes whatsapp KCS-content Sharecenter_img Tags: NULL Read This Next’A Quiet Place Part II’ Sets Pandemic Record in Debut WeekendFamily ProofHiking Gadgets: Amazon Deals Perfect For Your Next AdventureFamily ProofBack on the Rails for Summer New York to New Orleans, Savannah and MiamiFamily ProofIndian Spiced Vegetable Nuggets: Recipes Worth CookingFamily ProofAmazon roars for MGM’s lion, paying $8.45 billion for studio behind JamesFamily ProofYoga for Beginners: 3 Different Types of Yoga You Should TryFamily ProofNew England Patriots’ Cam Newton says no extra motivation from Mac Jones’SportsnautChicken Bao: Delicious Recipes Worth CookingFamily ProofCheese Crostini: Delicious Recipes Worth CookingFamily Proof by Taboolaby TaboolaSponsored LinksSponsored LinksPromoted LinksPromoted LinksYou May LikeMisterStoryWoman Files For Divorce After Seeing This Photo – Can You See Why?MisterStoryTotal PastThe Ingenious Reason There Are No Mosquitoes At Disney WorldTotal PastMoneyPailShe Was A Star, Now She Works In ScottsdaleMoneyPailSerendipity TimesInside Coco Chanel’s Eerily Abandoned Mansion Frozen In TimeSerendipity TimesBrake For ItThe Most Worthless Cars Ever MadeBrake For ItBetterBe20 Stunning Female AthletesBetterBeMagellan TimesThis Is Why The Roy Rogers Museum Has Been Closed For GoodMagellan TimesElite HeraldExperts Discover Girl Born From Two Different SpeciesElite Heraldmoneycougar.comThis Proves The Osmonds Weren’t So Innocentmoneycougar.com CONCERNS over inflation at the Bank of England will come to the fore this week, when the Monetary Policy Committee releases minutes of its December meeting on Wednesday.Forecasts for inflation levels in 2011 need to be revised upwards again, financial consultants Fathom said.“On balance, we still think the inflation overshoot will prove temporary and is not an indication of excess demand,” Fathom said. “And yet here we are once again, revising up our short term forecast.”Consumer price index inflation will average 3.4 per cent next year, Fathom estimates.Last week a Bank of England survey showed that people expect inflation to hit 3.9 per cent in 2011. Sixty-one per cent say this will weaken the economy.Price pressure will increase further in the new year when VAT increases to 20 per cent on 4 January.If inflation remains above the target level of two per cent, Bank governor Mervyn King will be obliged to write more letters to chancellor George Osborne explaining the failure to keep inflation in check.“The amount of spare capacity in the economy is uncertain,” said George Buckley of Deutsche Bank, “which makes forecasting inflation exceptionally tricky.” Sunday 19 December 2010 10:40 pmlast_img read more