Home » Finance » Inflation stays highest since May as utility bills rise

Inflation stays highest since May as utility bills rise

ukinflationBritish inflation held at 2.7% for the third month running in December, in line with forecast as a rise in gas and electricity bills was curbed by falls in fuel costs, reports Reuters.

The Office for National Statistics said utility prices rose 3.9% on the year while fuel costs fell by 0.2%.

The inflation, above the Bank of England’s 2% target since November 2009, is likely to have been a key argument against more quantitative easing to support growth at the bank’s monthly policy meeting last week.

High inflation has also put pressure on consumer spending, which accounts for around two thirds of all expenditure in a British economy that is still struggling to fend off recession.

The central bank’s latest quarterly forecasts, released in November, showed that inflation would peak in the third quarter of 2013, falling below the target only a year later.

According to separate data published by the ONS on Tuesday, annual factory-gate inflation inched up to 2.2% in December from 2.1% in November.

Comparing the present economy, to past trends and future forecasts in the Finance Sector, can obviously determine current risk evaluations on future decisions. By adopting Infomatrix OneView, businesses can benefit to achieve increased performance, growth and market share.

Oneview’s flexible BI Platform provides web based reporting, displays financial dashboards and, its multi dimensional analytics presents all critical business information in a single view.

About these ads

Leave a Reply

Fill in your details below or click an icon to log in:

WordPress.com Logo

You are commenting using your WordPress.com account. Log Out / Change )

Twitter picture

You are commenting using your Twitter account. Log Out / Change )

Facebook photo

You are commenting using your Facebook account. Log Out / Change )

Google+ photo

You are commenting using your Google+ account. Log Out / Change )

Connecting to %s

Top Posts & Pages

Follow

Get every new post delivered to your Inbox.