Inflation has risen once again in the U.K., this time by a relatively huge 0.5%, now stands at 4.5%.
The government's target is 2%.
The big numbers are causing the pound to rally, as it creates expectations of rising interest rates.
The Telegraph has an interesting figure: Based on this inflation, basic-rate taxpayers now need a savings account paying 5.63% in order to beat inflation, while higher-rate taxpayers have to earn an interest rate of 7.5% to beat it.
Tuesday, May 17, 2011
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