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UK inflation hits 4.4% in July

The UK inflation rate rose to 4.4 per cent in July meaning it is now more than double the Government’s 2 per cent target.

The rise is higher than expected, having been 3.8 per cent in June.

Rising food and petrol prices have been bolstering inflation in the past few months. The Retail Prices Index also rose from 4.6 per cent to 5 per cent.

Liberal Democrat shadow chancellor Vince Cable says that Britain is facing stagflation, with the news highlighting the Government and Bank of England’s dilemma.

He says: “Since inflation is now more than twice the target level, the Bank of England has no alternative but to maintain monetary discipline.

“There must be no attempt to undermine the independence of the Bank of England, even if its decisions prove to be unpopular in the short term.

“It’s very clear that we’re in for a dose of stagflation, with the economy slowing abruptly and inflation too high and increasing.”


No alarms and no surprises

This week saw the demise of The Mortgage Business, HBoS’ packager lender, an unsurprising indication for many of how precarious the mortgage packager market has become.

Mena streets

Economic news might seem relentlessly negative in the West but many emerging economies are still enjoying strong growth. The Middle East and North Africa are among the fastest-growing areas and have benefited from surging oil prices. Demand for energy is likely to remain high as countries such as China turn themselves into industrial powerhouses, so we expect the resource-rich Mena economies to continue to receive this windfall for many years.

This is your life plan

I have recently heard about a service called life planning which is being offered by some financial planners. Can you please explain to me what it is and how it differs from ordinary financial advice?

Woollett joins board at Baring trust

Baring Emerging Europe investment trust has appointed Jonathan Woollett as a non-executive director. Woollett joined in July from the European Bank of Reconstruction in London.

Singapore cover image - thumbnail

White paper — Singapore International Insights

Jelf Employee Benefits assesses key trends within the international private medical insurance provision of organisations with employees in Singapore. Benefit structure, cost management and healthcare facilities are examined and key considerations are highlighted. This edition will be of particular interest to global human resource directors and benefit managers with local and expatriate populations in Singapore.


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