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Financial News: U.K. Inflation To Rise On Sterling's Fall: BoE

U.K. Inflation To Rise On Sterling's Fall: BoE

02/08/2017 - 07:12:00 (RTTNews)

(RTTNews) - U.K. price pressures had continued to build through supply chains following sterling's fall, the Agents' summary of business conditions, published by the Bank of England showed Wednesday.

So far, the fall in sterling particularly influenced food and fuel prices. A wider range of goods prices were expected to be affected during the year, causing inflation to rise further, agents' summary showed.

Consumer spending growth had remained resilient, but was expected to ease during the year as prices rose, the summary revealed.

Further, the report showed that employment intentions is set to be little changed overall in the next six months.

Housing market is forecast to remain sluggish over the coming year.

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