UK households braced for higher inflation

Steep rises in energy bills are expected to keep inflation painfully high in the official figures out at 9.30am on Tuesday, reports The Guardian.

Official

Inflation is expected to run well above the Bank of England target rate of 2% for another two years in the UK. Don't worry it's a self-inflicted goal. Moreover, Inflation is a cause for optimism says Bank of England governor Mervyn King. The UK inflation rate will remain stubbornly high for longer than previously thought, the governor of the Bank of England has said.

For once, a surprise in the opposite direction. City forecasters were expecting inflation to be broadly unchanged in March. Instead, the annual rate of inflation has fallen from 4.4% to 4% - thanks, in large part, to a 1.4% monthly fall in the price of food. There's also welcome news on the trade front: exports were 15% higher in the last three months than the same period last year.

* Feb CPI rises 3.2 percent from year earlier * Feb food CPI up 6.0 percent on year * Feb PPI falls 1.6 percent from year earlier

The Census Bureau today released new national-level statistics on business owners including owner’s age, education level, veteran status and primary function in the business; family-owned and home-based business status; types of customers and workers; and sources of financing for start-up, expansion or capital improvements.