Soaring petrol costs push UK inflation up again for second month in a row – business live
Inflation hits eight-month high of 2.6%; US Federal Reserve widely expected to cut interest rates by a quarter point
Ian Stewart, chief economist at Deloitte, warns that high wage growth and surging government spending could keep inflation high for longer.
The big declines in inflation are behind us. Next year inflation is likely to run closer to 3.0% than to its 2.0% target. Wage growth of over 5.0% and a surge in government spending could keep inflation higher for longer. Continue reading...
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