Wednesday January 20, 2010 at 9:25am
The UK’s inflation has increased at its fastest annual rate for nine months in the month of December to 2.9%. It was also the steepest climb from one month to the next since records began according to the Office of National Statistics.
What could the implications be in this unprecedented rise for business, the individual and our economic recovery?
Increased wage demands? Will living standards be affected? Interest rates? Or is it just a short glitch in our inflationary figures that we should not concern ourselves with? (As chief economists and the Bank of England suggest - BBC News)
Another consideration for when January’s figure is published is the VAT increase back to 17.5%
What is your view as a business professional, employee, job seeker or as an individual?