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British population expects inflation to rise

A survey by the Bank of England has shown that expectations for inflation have increased dramatically over the last three months. The survey, carried out in May, shows that the average expectation for inflation in the future rose to 3.3% against just 2.5% back in February. It would seem that concerns about inflation are starting to filter through not only into the business arena but also into the consumer arena which is a worry.

Despite assurances from the Bank of England that it fully expects inflation to fall back below 2.5% over the next 12 months there is still concern in the marketplace. This comes at a time when the UK business arena is still struggling to pull free of the recession with many companies still looking to cut costs and struggling to maintain their profit margins. The next 12 months will be vital for the UK economy with a number of experts forecasting economic weakness in the second half of 2010.

Whether this will materialise remains to be seen but those who fear the UK economy has pulled well away from the recessionary period experienced after the credit crunch may need to think again. While the worst may well be over for the UK economy there may still be some tough times ahead!

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