Food Prices Threat to Inflation Ceiling with Arable Production Taking a Heavy Hit, Recent Floods Could Boost Cpi by 0.3 Per Cent
Linked as:
Summary
BRITAIN'S economy is facing a double hit in the coming months, with soaring food prices threatening to push inflation to the top end of its target range and the effects of the global credit crunch smashing growth in the UK's booming financial sector. Fresh falls are expected in markets today.
According to the Centre for Economics and Business Research (CEBR), the appalling summer weather will add to upward pressure on food prices and interest rates, with the Consumer Price Index boosted by half a percentage point in total by the end of the year. The result, says the CEBR's chief executive, Douglas McWilliams, is that the official inflation measure "could again breach the 3 per cent target, causing the governor of the Bank of England to have to write an explanatory letter".See the full content of this document
Extract
Food Prices Threat to Inflation Ceiling with Arable Production Taking a Heavy Hit, Recent Floods Could Boost Cpi by 0.3 Per Cent
And in an assessment of the impact of the credit-market downturn on UK growth, forecasting group Oxford Economics warns in ...
See the full content of this document
Sponsored links
