Inflation Blamed On Temporary Factors
Source: Agencies |
August 18, 2010, Wednesday
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Print Edition
Print Edition
ABOVE-TARGET inflation in Britain is mainly due to temporary factors that are masking the downward pressure being exerted by post-recession spare capacity in the economy, Bank of England Governor Mervyn King said in London yesterday.
King, in a letter explaining why inflation was still more than 1 percentage point above its 2 percent target in July, said there was a "significant probability" that he would continue to have to explain above-target inflation for a while.
King, in a letter explaining why inflation was still more than 1 percentage point above its 2 percent target in July, said there was a "significant probability" that he would continue to have to explain above-target inflation for a while.
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