Get ready for two more years of surging prices, says Bank of England

In addition policymakers said economic growth will be materially stronger than previously thought, with the economy now expected to expand over the next two years rather than shrink. The rate-setting Monetary Policy Committee (MPC) forecast that the economy will be 2.25pc larger in three years time than it predicted in February – the biggest growth upgrade in … Read more

‘Eye-watering’ cost of regulation to blame for surging food prices, Treasury told

It came as the Bank blamed rising cost of food and other goods for “almost all” of the unexpectedly high inflation over the past few months. The Bank believes food costs, which are already climbing at their fastest pace in 45 years, will keep rising for the rest of the year. In its latest economic outlook, Threadneedle Street said: … Read more