Wednesday, October 18, 2006

Price pressures point to interest rate rise – Sept RPI Highest since 1998

Price pressures point to interest rate rise

Price pressures point to interest rate rise An interest rate rise to 5 per cent next month appeared all but certain after the latest inflation figures on Tuesday showed that price pressures are more entrenched in the economy than the Bank of England had thought. The annual increase in the consumer price index in September was 2.4 per cent, down from 2.5 per cent in August, a smaller fall than had been expected. Petrol prices were lower, but prices rose in almost every other element of consumers’ expenditure. The retail prices index rose to 3.6 per cent, its highest level since June 1998, as the August rate rise increased mortgage interest payments, which are included in this index. By Chris Giles, Economics Editor Published: October 17 2006 22:03

Posted by hyrax @ 08:30 AM (549 views)
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