BANK OF ENGLAND INFLATION POLICY

That this House notes the rising prices of resource commodities such as energy and food which have frustrated Bank of England inflation targeting and wider price stability; further notes that this has occurred during a prolonged period when the world economy has been weakened making a recovery in the UK more challenging; and calls for a review of the official Bank of England inflation policy in the light of global resource demand pressures of limited supply which are already evident and, other than through global reduction in demand, are likely to continue.