UK inflation rate unexpectedly rose in Feb

Discussion in 'Wall St. News' started by RiceRocket, Mar 24, 2009.

  1. Consumer prices climbed 3.2 percent from a year earlier, the Office for National Statistics said today in London. The median forecast of 28 economists was for 2.6 percent. Bank of England Governor Mervyn King wrote in a letter to the Treasury explaining the increase from the 3 percent limit that a “sharp decline” in the rate is likely to resume.

    Link the rests of the article:

    This is what we have to look forward to if the quantitative easing crashes the dollar. I really don't like the direction things are going. Inflation will only slow aggregate demand further as prices rise while consumers have less to spend.