King's inflation letter likely next week - New Star

Required by the Bank’s monetary policy remit, King would be forced to write a letter to Alistair Darling should year-on-year CPI inflation reach 3.1%. Yearly inflation hit 3% in April and Ward says most indicators suggest another rise for May. “May consumer prices figures are published on Tuesday but Bank of England Governor Mervyn King will already know whether the annual increase reached the 3.1% letter-writing level,” he says. “Recent news suggests it did, which may explain the lack of any discussion of monetary policy in Mr King’s speech to the British Bankers Association this wee...