Comments & Features
Inflation reaches 3.8% in June
By Henry Tyler
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Posted 15 July 2008 @ 10:31 am GMT
The Office for National Statistics (ONS) said on Tuesday the inflation reached 3.8 per cent in June thanks to rising food and fuel costs.
Money shown in an undated file photo. IBTimes/Alan Channer
House prices fall for fifth monthThe figure is a 0.5 per cent increase from the 3.3 per cent inflation reported by the ONS in May. The ONS said Retail Price Inflation was 4.6 per cent.
Earlier this year the Bank of England said that inflation could reach four per cent before the end of the calendar year.
The news is likely to prove troublesome for the Bank, which has to balance the problem of rising inflation with an economic downturn.
This article is copyrighted by the International Business Times.
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