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Finance Archive
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UK inflation jumps to 3.7% in December
The Office for National Statistics (ONS) said today that the UK Consumer Prices Index (CPI) annual inflation rate rose to 3.7% in December from 3.3% in November. This was the biggest ever month-on-month rise and will put more pressure on the Bank of England to raise interest rates. According to the ONS, air transport and [...] -
Two million people use credit cards to pay mortgage or rent
More than 2 million people in the UK have used credit cards to pay their mortgage or rent in the last 12 months, according to new research from Shelter, the housing and homelessness charity. The survey was conducted in August 2010 and asked 2,202 people if they had borrowed money on their credit card to [...] -
CBI says UK interest rates need to rise in 2011
Higher-than-expected inflation means the Bank of England should start raising interest rates from the spring of next year, according to latest forecasts by the Confederation of British Industry (CBI). With recent pressure from energy and commodity prices as well as the impact of higher VAT in the New Year, the CBI predicts that inflation will “significantly [...]
