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| IoD: Inflation figures no great surprise |
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| Latest Recruitment News - HR and Recruitment Legislation News |
| Written by DirectNews Feed |
| Wednesday, 19 October 2011 00:00 |
 Professionals in finance jobs in London are unlikely to have been overly surprised with the announcement of a growth in inflation, an expert believes.Yesterday (October 18th), the Office for National Statistics revealed that the UK's consumer prices index measure of inflation rose to 5.2 per cent in September, which represents a hike from the 4.5 per cent recorded one month earlier. However, despite the fact this is undeniably negative news for the state of Britain's recovery in the aftermath of the global economic downturn, Graeme Leach, chief economist at the Institute of Directors (IoD), does not think the rise was unexpected. Mr Leach explained that the natural first response to the figures is "ouch", but insisted the Monetary Policy Committee (MPC) was always aware that "inflation would head north of five per cent this year". He went on to state that this development "in no way undermines" the MPC's decision to implement further quantitative easing earlier this month. Posted by James Strang 
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