Rate cut hopes fade as inflation surges to 3%


	Rate cut hopes fade as inflation surges to 3%

JICWyllie

5-13-2008 12:08 PM

149 views

tags:

economy, currencies, i-inflation, i-increase, i-devaluation, i-forecast

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<div style="margin: 12px 0px; font-family: arial; color: #333333; background: #ffffff; border: solid 4px #e5e5e5; width: 100%; clear: left;"><div class="CM_CTB_Content_Wrap" style="margin: 0px; padding: 0px;background-color: #ffffff;"><div style="border-bottom: solid 1px #dcdcdc; white-space: nowrap; margin-bottom: 8px; background-color: #eeeeee ;background-image: url(http://www.clipmarks.com/images/source-bg.gif); background-repeat: repeat-x; height: 24px; line-height: 24px; vertical-align: middle; padding-bottom: 4px; color: #666666; font-size: 10px;" ><a href="http://clipmarks.com/clip-to-blog/" title="see clips that are hot right now"><img src="http://content.clipmarks.com/blog_embed/6993360b-18f4-43d8-8890-778b1ff584f8/23FCB6BF-1EAC-46A6-AD46-0D3598420772/" alt="" width="19" height="19" border="0" style="vertical-align: middle; margin: 0px 4px; display: inline; border: none; float:none;" /></a>clipped from <a title="http://www.ft.com/cms/s/0/3d6b03be-20cd-11dd-a0e6-000077b07658.html" href="http://www.ft.com/cms/s/0/3d6b03be-20cd-11dd-a0e6-000077b07658.html" style="font-size: 11px;">www.ft.com</a></div><blockquote style="text-align: left; padding: 0px 8px; margin: 4px 0px 8px 0px; background: transparent; border: none;" cite="http://www.ft.com/cms/s/0/3d6b03be-20cd-11dd-a0e6-000077b07658.html">Consumer price inflation shot up at the fastest rate in more than five years in April to hit 3 per cent, knocking hopes of further cuts in interest rates, official statistics showed on Tuesday</blockquote><div style="height: 2px; font-size: 2px; background: #dcdcdc; border-bottom: solid 1px #f5f5f5; margin: 2px 4px;"></div><blockquote style="text-align: left; padding: 0px 8px; margin: 4px 0px 8px 0px; background: transparent; border: none;" cite="http://www.ft.com/cms/s/0/3d6b03be-20cd-11dd-a0e6-000077b07658.html">The Office for National Statistics said consumer prices leapt 0.8 per cent last month, taking the annual inflation rate from 2.5 per cent in March to 3 per cent in April, much higher than analysts had expected.</blockquote><div style="height: 2px; font-size: 2px; background: #dcdcdc; border-bottom: solid 1px #f5f5f5; margin: 2px 4px;"></div><blockquote style="text-align: left; padding: 0px 8px; margin: 4px 0px 8px 0px; background: transparent; border: none;" cite="http://www.ft.com/cms/s/0/3d6b03be-20cd-11dd-a0e6-000077b07658.html">When the Bank sets out its latest forecasts for the UK economy in Wednesday’s Inflation Report, it is likely to show a very sharp, short-term spike in inflation that could severely limit its ability to cut rates to stem an economic slowdown.</blockquote></div><div style="margin: 0px 6px 6px 4px;"><table style="font-size: 11px;border-spacing: 0px;padding: 0px;" cellpadding="0" cellspacing="0" width="100%"><tr><td style="background:transparent;border-width:0px;padding:0px;">&nbsp;</td><td align="right" style="background:transparent;border-width:0px;padding:0px;width:107px" width="107"><a href="http://clipmarks.com/share/23FCB6BF-1EAC-46A6-AD46-0D3598420772/blog/" title="blog or email this clip"><img src="http://content7.clipmarks.com/images/c2b-foot.png" border="0" alt="blog it" width="107" height="17" style="border-width:0px;padding:0px;margin:0px;" /></a></td></tr></table></div></div>