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United Kingdom Inflation Rate

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Editor’s Remarks:
The UK’s inflation rate for December was announced on Tuesday, climbing up to 1.6% from 1.2% the previous month. The steady rise in price of British goods and services may come as a tentative source of concern for monetary policy setters as levels inch up towards the Bank of England’s target of 2%, having kept below it for the last two years. Inflation is still in an acceptable range, though it remains to be seen whether the forces which have pushed it from its pre-referendum rate of 0.5% to 1.6% might tip it over. These are thought to consist mainly of the upwards pressure on imported goods prices caused by the tumbling value of the pound, but the BoE’s stimulus package, announced by its governor Mark Carney in August 2016, could also have played a role – if its efforts to prevent the interest rate cut and £60bn bond-buying programme from being diluted as they pass down the UK financial system worked, that is

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