UK inflation breaks out of target band
Inflation now above the BoE’s 3% upper limit, though breach may prove temporary
The UK’s headline inflation hit its highest level in more than five years in November, breaking through the top end of the Bank of England’s tolerance band, figures released today (December 12) reveal.
The consumer prices index rose to 3.1%, up from 3% a month earlier. Since price rises have deviated from the Bank of England’s 2% target by more than a percentage point, governor Mark Carney will now have to write an open letter to the UK finance minister explaining what action the central bank
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