Commodities - The Coming Bull Market Message Board

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Strategies & Market Trends : Commodities - The Coming Bull Market

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To: craig crawford who wrote (208)	6/12/2001 4:42:23 PM
From: craig crawford	Read Replies (1) of 1643

Food prices see inflation hit two-year high By David Turner Published: June 12 2001 08:42GMT \| Last Updated: June 12 2001 12:25GMT news.ft.com Underlying inflation in the UK has risen to its highest rate in more than two years, a blow to advocates of further interest rate cuts. Retail price inflation excluding mortgage interest payments rose 0.4 percentage points in May - the biggest increase since the spring of 1998 - to an annual rate of 2.4 per cent. Underlying inflation is now just a whisker below the Bank of England's 2.5 per cent target, having remained below it for more than two years. Were it not for the government's March budget, which imposed a combination of cuts, freezes and small increases on many indirect taxes, the rate would have now exceeded the bank's target. Underlying inflation excluding indirect taxes jumped to 2.8 per cent last month, up from 2.2 per cent in April, the Office for National Statistics said on Tuesday.

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