Inflation rises to highest level in year

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iNews (Indonesia)

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Business

Business & Economics

The four things Rachel Reeves can do to cut inflation

Summary

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72% Informative

Consumer Prices Index (CPI) measure of inflation rose to 3.5 per cent in the year to April .

This is well above the Bank of England’s two per cent target.

Higher inflation is, the bigger is the risk of interest rates staying high.

Higher energy bills were one of the key reasons for the spike in inflation.

Cutting energy and water bills could help ease inflation, experts say.

Jason Hollands of wealth management firm Evelyn Partners said: “ One of the main things the Government can do to keep inflation in check is to resist calls for inflation-busting wage rises in the public sector which might fuel a wage/price spiral. “However, this will be politically challenging for them given the relationship with the unions, current poll ratings and their recent track record of awarding pay rises in the public sector.”.

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semi-formal

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English

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