Tuition fees and energy costs put inflation under pressure

The Governor of the Bank of England explained why inflation would fall back towards the Government's 2% target later than expected. Student tuition fees and rises in energy bills were partly to blame.

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UK growth forecast downgraded

The Bank of England has downgraded its growth forecast for 2013 to around 1% as it warns output will remain below pre-financial crisis levels for the next three years.