Barclays warns that inflation could soar past five per cent

first_img whatsapp Show Comments ▼ Barclays warns that inflation could soar past five per cent whatsapp Tags: NULL KCS-content center_img Wednesday 13 April 2011 7:59 pm INFLATION could still rise above five per cent this year, economists at Barclays claimed yesterday. The announcement surprised analysts after consumer price inflation sank to four per cent in March, from 4.4 per cent the previous month.However, strong upwards pressures in food and energy costs will drive inflation to a peak of 5.1 per cent in the consumer price index, Barclays forecast.Hikes in duties on alcohol and tobacco from last month’s Budget will also push prices further upwards, Barclays said.“The higher inflation profile we now expect during the remainder of this year will make it hard for the Bank of England to resist pressure to raise rates indefinitely,” it added.Bank governor Mervyn King (pictured) previously warned that inflation could reach the five per cent mark in 2011, yet many analysts now expect price pressures to linger closer to four per cent. “The dreaded five per cent rate that we had once feared now looks unlikely to be realised,”Andrew Goodwin of the Ernst & Young Item Club said. Share Read This NextRicky Schroder Calls Foo Fighters’ Dave Grohl ‘Ignorant Punk’ forThe WrapCNN’s Brian Stelter Draws Criticism for Asking Jen Psaki: ‘What Does theThe WrapDid Donald Trump Wear His Pants Backwards? Kriss Kross Memes Have AlreadyThe WrapPink Floyd’s Roger Waters Denies Zuckerberg’s Request to Use Song in Ad:The Wrap2 HFPA Members Resign Citing a Culture of ‘Corruption and Verbal Abuse’The WrapHarvey Weinstein to Be Extradited to California to Face Sexual AssaultThe WrapNew England Patriots’ Cam Newton says no extra motivation from Mac Jones’Sportsnaut’The View’: Meghan McCain Calls VP Kamala Harris a ‘Moron’ for BorderThe Wrap’Small Axe’: Behind the Music Everyone Grooved On in Steve McQueen’sThe Wrap by Taboolaby TaboolaSponsored LinksSponsored LinksPromoted LinksPromoted LinksYou May LikeMisterStoryWoman Files For Divorce After Seeing This Photo – Can You See Why?MisterStoryTotal PastThe Ingenious Reason There Are No Mosquitoes At Disney WorldTotal PastMoneyPailShe Was Famous, Now She Works In {State}MoneyPailBrake For ItThe Most Worthless Cars Ever MadeBrake For ItSerendipity TimesInside Coco Chanel’s Eerily Abandoned Mansion Frozen In TimeSerendipity TimesDrivepedia20 Of The Most Underrated Vintage CarsDrivepediaBetterBeDrones Capture Images No One Was Suppose to SeeBetterBeZen HeraldThe Truth About Why ’40s Actor John Wayne Didn’t Serve In WWII Has Come To LightZen Heraldautooverload.comDeclassified Vietnam War Photos The Public Wasn’t Meant To Seeautooverload.comlast_img

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