The Bank of England’s Andrew Bailey needs to say what he will do if the rate of price increases – already 2.5% – remains high
The UK’s annual rate of consumer price inflation was 2.5% in June, we learned last week, up from just 0.7% in March. It has arrived at that point sooner than almost every economist had expected in the spring. Now the forecasters agree 3% is a nailed-on certainty this year, with a few saying 4% will be seen.
Related: UK inflation jumps to 2.5% as secondhand car and food prices rise
