Inflation leaps again as fuel bills rocket

Click to follow
Indy Politics

Soaring utility bills sent inflation soaring to 4.7 per cent last month, prompting another letter of explanation from Bank of England Governor Mervyn King to the Chancellor, figures revealed today.

Double-digit rises in energy tariffs sent the Consumer Prices Index (CPI) up 0.3 per cent from 4.4 per cent in July, according to the Office for National Statistics (ONS).

The rise means that Mr King must pen an open letter to Alistair Darling today explaining why inflation is still more than 1 per cent above the 2 per cent target - the third such letter in his tenure and the second so far this year.