Household squeeze 'to worsen'

The Bank of England governor made clear today that the squeeze on household budgets will only get worse. Sir Mervyn King said he expected inflation to rise to three percent or more by the Ssummer and stay above target for another two years.

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Consumer price index inflation unchanged at 2.7%

The rate of consumer price index inflation remained unchanged in January at 2.7 percent, official figures released today showed.

However, the headline rate of retail price index inflation rose to 3.3 percent in January from 3.1 percent in December, the Office for National Statistics said.

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