Ingrand Bank predicts that inflation will increase to 5 % next year.
British wages are unable to catch up with inflation, leading to the struggle of households nationwide.
-An-ad
The Bank Governor Andrew Bailey tells the BBC: No one of us wants to see it. Inflation is obviously bitten by people’s household income. We are convinced that they are feeling it in terms of rising prices. “
Inflation is now 3.1 % of the 2 % goals of England Bank. It is expected to rise to 5 % by April next year.
The Professor of Economics of the Dartmas University in the United States criticized England Bank on predictions. He said:
“We have no historical precedent of what happened. We have never seen this kind of impact, and the big thing we are looking at the moment is the Furlough Scheme. It will increase national insurance (and) universal credit.
“So the central bank has a lot of clues to what is happening. This is a really big and uncertain world, everyone should take care of it. I have to say it. I don’t think … you have to pinch a very large salt by the Governor of England and the Monetary Policy Committee.
