Inflation will not rise out of control and should return to target, Mervyn King, the governor of the Bank of England, insisted on Tuesday night after official figures showed the largest jump in annual inflation rates on record in December. Consumer price inflation rose from 1.9% in November to 2.9% in December, far above both the City and the Bank of England’s expectations, but King said the rise was “temporary” and did not constitute a “continuing source of inflation”.

This entry was posted by Gwen Robinson on Wednesday, January 20th, 2010 at 4:45 and is featured in The 6am Cut London (20 Jan 2010) . Tagged with inflation, mervyn king. Edit this entry.