Inflation, which is currently at 2.8% is likely to edge higher in coming months as well as remaining above 2% until 2% until the start of 2016.
(PRWEB UK) 15 May 2013
The Bank of England is predicting a modest and sustained recovery for the UK, but had warned that inflation will remain stubbornly high, reports UK financial website This Is Money.
Growth is expected to pick up to 0.5% in its second quarter of this year, but the hangover from the financial crisis is expected to make recovery weak and uneven.
It was the last quarterly inflation from bank governor Sir Mervyn King before Mark Carney takes over the role in July. He added that inflation, which is currently at 2.8% is likely to edge higher in coming months as well as remaining above 2% until 2% until the start of 2016.
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