Investment expert on the high annual inflation rate Get pensions news and advice plus latest money alerts for FREE now SUBSCRIBE Invalid email We use your sign-up to provide content in ways you’ve consented to and to improve our understanding of you. This may include adverts from us and 3rd parties based on our understanding. You can unsubscribe at any time. More info Speaking at Leeds University today the Bank of England’s Deputy Governor for Monetary Policy, Dr Ben Broadbent said: “The aggregate rate of inflation is likely to rise further over the next few months and the chances are that it will comfortably exceed five percent when the Ofgem cap on retail energy prices is next adjusted, in April.” The central bank has previously forecast inflation peaking at around five percent next year then beginning to fall back down. Dr Broadbent suggested there was still “good reason” to expect the current rapid rise in prices to fade and potentially in some cases even reverse. However, he cautioned over the time period suggesting descriptions of inflation as transitory should be understood as meaning as long as 18 to 24 months. Trending On gas prices in particular he warned recent surges… Read full this story
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