The Bank of England is warning that its ambition to chase the inflation rate down to 2 per cent has suffered a setback.
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An unexpected rise in last month’s rate has taken it back to 3 per cent. The increased cost of food was part of the reason, but higher plane fares, and rising private school fees have also contributed.
We look at the impact rising prices are having on UK consumers and speak to leading economist Mohamed El-Erian about what the troubling figure means for the UK’s struggling economy.
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