Today sees the publication of the UK inflation figures for April which are likely to show for the first time in a while a fall in the rate of annual inflation. However whilst this dip is welcome it will remain over target which will make it some 41 months in a row that this has been the case. To show the significance of this in relation to UK economic policy making I would like to take you back to the Bank of England Inflation Report of May 2009 which told us this.Inflation is likely to fall bac…
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