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Food prices climb almost 1% in April -
Summary from Canada, from articles in English
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Inflation in Britain hit 3.3 per cent in May, the highest annual rate in 11 years, the government said Tuesday, putting more pressure on the Bank of England to keep prices under control. (article 1)
Meat, vegetables and fuel were key factors in pushing the index up from 3.0 per cent in April, which was a full point above the government's inflation target. (article 1)
The governor of the Bank of England , Mervyn King, is now obliged to write a letter to Treasury chief Alistair Darling explaining why the rate has shot above three per cent. (article 1)
" The initial market reaction to the announcement was relatively stolid, with the majority of the inflationary increase having been priced in said Richard Hunter (article 1)
Darling's) response to the letter and the next set of economic numbers will now take on more significance. (article 1)
A different measure, the retail prices index, rose to 4.4 per cent in May from 4.0 per cent in April, the Office for National Statistics said. (article 1)
" In the absence of a marked fall in global commodity prices, the period of high inflation and letter-writing from the (Bank of England) is likely to extend into the second quarter of 2009 Barr said (article 1)
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Other summaries about this story:
Other stories about inflation, prices and bank:
Event tracking:
Story keywords
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inflation, prices, bank, rate, food |
Source articles
- British inflation rate at 11-year high (cbc.ca, 06/17/2008, 336 words)
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blaster@cs.columbia.edu
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