Musings of a London Property Agent
The Bank of England predicted that inflation would rise to 5pts this year as a result of increased food, imports and commodity prices. The Bank of England Inflation Report produced by The Monetary Policy Committee and released this morning suggested that the rise in inflation coupled with the credit crunch would mean a decline in retail spending and domestic house prices this year.
The Bank of England said they anticipated that GDP would decline over the rest of the year and remain flat during 2009 but that the squeeze on the consumer purse would lessen next year. The Inflation Graphs show Consumer Price Index or CPI inflation projections reaching government targets of 2pts again in 2010. If you need to buy a house then contact this London Property Finder.