Inflation

Alistair Darling must avoid at all costs the temptation to tamper with the Bank of England's inflation target, one of the members of the Monetary Policy Committee has warned, The Telegraph reports.

Oil prices are easing after meteorologists predicted Hurrican Dolly would not pose a threat to offshore oil platforms.

The Consumer Price Index (CPI) reached a ten-year high of 3.8% in June from 3.3% in May, according to the Office for National Statistics.

The Bank of England's Monetary Policy Committee (MPC) has voted to keep rates on hold at 5%.

G8 world leaders have pledged to take individual and collective action to tackle global inflationary pressures.

iShares plans to extend its inflation-linked bond ETF range, as concerns over inflationary pressures remain top of the agenda for the global economy.

Mervyn King, governor of the Bank of England, has told MPs he is confident inflation will fall back to its 2% target.

The Federal Reserve has voted nine to one to hold key US interest rates at 2%.

Pensioner inflation could erode entire monthly income within two decades of retirement, according to Standard Life.

A surprise boom in retail spending in May might prompt the Bank of England to raise interest rates earlier than expected.