Future Inflation To Be Steady, Survey Says

Sept. 18, 2009 - PRLog -- London (Shakespeare Finance) 18th September, '09: On a survey held on consecutive months for inflation, the predicted inflation was 2.4% in August and for the month of May in the poll the figure was equal. However, the Consumer Price Index (CPI) actually sink to an annual rate of 1.6% in August which was 1.8% in July.

In order to balance the price and broader economy stable The Bank of England has set its goal to maintain inflation at about 2%.

In a recent meeting with Treasury Select Committee, Mervyn King, governor of The Bank of England conveyed that over next month inflation was "likely to be volatile". At the beginning it may fall even below 2% target and then climb above it.

This is going to keep the inflation steady in the future, giving some relief to UK people.

To get an idea the quarterly Inflation Attitudes Survey polled 2,075 all across the UK, aged 15 and above, asking about their predictions regarding the future movement on interest rates.

48% of polled people expected rates to rise over the next 12 months, compared with 44% in May. Where as 8% of respondents anticipating interest rates to fall over the next 12 months, compared with 10% three months earlier.

The inclusion of survey and publication are tools used to convey public explaining the role of Monetary Policy Committee which decides the rate of interest so as to meet the target set for inflation.

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