Pay and bills could further affect consumer finances

The Governor of the Bank of England, Mervyn King, has recently warned consumers that their financial situations could become increasingly strained due to rising bills and below inflation pay rises. With inflation levels soaring and the cost of energy, food, and petrol continuing to rise many households could find themselves running into severe financial problems towards the end of the year, especially with wages set to rise at levels below inflation. Read more

Tags: Monetary Policy Committee, think, action, challenging year, bank, pay, inflation levels