The suspected increase in inflation is not great news for consumers or businesses
(PRWEB UK) 14 February 2013
According to the BBC, The Bank of England has suggested that the rate of inflation will increase even more than its current 2.7 percent towards around 3 percent by the start of the summer. The new figures will be the second consecutive year that the inflation rate has been above the target of 2 percent. Sir Mervyn King, the governor of the Bank said that, ‘Inflation is likely to rise in the near term. This is not the result of easy monetary policy and nor does it reflect what’s going on in the economy. Growth is likely to be weak in the near term but further out a continued easing in domestic credit conditions, supported by the Bank’s asset purchase programme and the Funding for Lending Scheme, together with the stronger global backdrop, underpin a slow but steady recovery in output.’
Cost.co.uk is one of the UK’s favourite comparison sites bringing the best deals on finance, insurance and travel to consumers up and down the country. The company strives to bring the easiest and quickest way to compare a variety of bills and products, with the ultimate goal of saving money.
A representative from the company commented on the predicted increase in inflation, ‘The suspected increase in inflation is not great news for consumers or businesses and will mean many need to pull purse strings even tighter. It is at least, some hope that the inflation rate does not directly reflect the economy, which according to experts is set to improve.’
Cost.co.uk continues to follow consumer based news.
Based in Essex, Cost.co.uk is one of the UK’s leading price comparison sites. Allowing their online customer’s access to companies offering a range of insurance, financial and travel services, the firm specialise in providing a personal experience. Founded in 2012, the agency has a trusted reputation for sourcing the most ideal policies at affordable prices.