Burnham Vows Tough Decisions Amid Rising UK Inflation
UK Prime Minister Andy Burnham has signaled his willingness to make tough decisions to keep the economy on track. The move comes as data shows a rise in inflation, with Britain's inflation rate reaching a five-month high of 3.1% in August.
Burnham noted that the underlying picture from the latest data was one of 'resilience' in the economy, but acknowledged that the acceleration in inflation is a concern. The government will take action to help people while also applying prudence to the running of the economy, he said.
The PM's comments come as speculation mounts about what the upcoming budget on October 28 will bring. Britain is seen as more vulnerable to surging oil prices from the war in the Middle East than other countries, and the inflation pick-up adds to the headache for Finance Minister John Healey.