According to a Lloyds TSB poll of UK consumers inflation is expected to rise yet again, this being the tenth month in succession where the people of the UK have felt that inflation would increase.
The monthly survey carried out by Lloyds TSB has seen the expectation of people for inflation in 12 months time to be at 5 percent, up from the 4.8 percent they had forecast a month earlier. It is interesting that the recent price reductions on fuel at the forecourt did not stop people from anticipating this further increase.
A different view comes from the Bank of England say Lloyds TSB, with their own forecast being that inflation will be lower than 2 percent within two years.
The bad news of England not qualifying for the Euro 2008 Championships is tempered by the fact that, according to the Abbey National, the average British football fan will have saved over GBP550 by England not being there.
The Abbey National survey found that around 1.8 million consumers were considering buying a new television towatch England play n Euro 2008, with nearly 2.3 million spending nearly GBP150 per person on football kit, flags, hats and so on. Celebrating victories or drowning sorrows was also planned for, with nearly GBP100 per person earmarked for alcohol at home plus a further GBP135 spent at the pub.
A spokesman for Abbey National empathised with the England supporters who would be missing out on a potentially great tournament but felt that the silver lining of saving so much money would make it all bearable. And of course it also means England will not be knocked out on penalties as usual.
The investment management team at Legal and General are anticipating recession in the UK as early as this year.
The economic indicators the Legal and General people are looking at are highlighting an imminent recession. These indicators include the level of borrowing, reduced spending and the relative inability to access extra funds. In combination these factors are really making the British public take notice of the economy and consider their own positions.
Further driving the problem is the fact that the global economy is struggling, so it is not an isolated UK issue. Consumers in the UK are keeping a wary eye on the situation says Legal and General, which automatically means they are less free with their spending and tend to be much more conservative in their decisions.
