The Perils of Importing Inflation ; Doesmountingglobal Inflation Threaten Economicrecovery Here? Bill Gleeson Reports
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Summary
SHOPPERS and motorist will tell you prices charged in the supermarkets and forecourts have been rising steadily in recent years.
In each of the last 12 months, UK inflation has been 3% or higher, remaining obstinately above the Bank of England's (BoE) 2% target. The persistence of inflation in this country has taken members of the BoE's Monetary Policy Committee (MPC) by surprise. The BoE had previously predicted that inflation would be less than half its current rate of 3.3% by now.See the full content of this document
Extract
The Perils of Importing Inflation ; Doesmountingglobal Inflation Threaten Economicrecovery Here? Bill Gleeson Reports
Many of these price pressures are imported, arising from economic conditions in other parts of the world. Britain, though, is unique among G7 countries in suffering higher than normal inflation. Most of the rest of Europe and North America have experienced much lower levels of price rises. That's not to say, though, that there aren't concerns forming on the continent about prices.
Earlier this week, the European Central B...See the full content of this document
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