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Inflation to surge after VAT hike

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01-05-2011, 11:27 PM

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Inflation to surge after VAT hike

Leading business groups have warned that the recent hike in VAT from 17.5% to 20% will drive inflation up to around the 4% mark over the coming months. This would take inflation to double the Government’s target of 2%. Last month, the Office for National Statistics (ONS) revealed Consumer Price Inflation (CPI) rose to an [...]

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