Bigger-than-expected inflation jump worsens Bank of England dilemma

Bank torn between calls to cut interest rates to boost growth and need to damp down price risesUK inflation jumps higher than expected to 3.5%Business live – latest updatesFor households across Britain, April was an awful month. Rising energy bills, broadband costs and the sharpest increase in water bills since privatisation – despite public anger over the quality of service offered – all added to the cost of living squeeze.Economists had forecast a jump in inflation based on the flurry of annual bill increases. But at 3.5% – the highest rate in the G7 – the rise was bigger than the 3.5% rate predicted in the City, and will raise concerns at the Bank of England. Continue reading...

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