Cheaper oil to boost British economy
Tuesday, 20 January 2015
LONDON, Jan 19 (AFP): British economic growth could be stronger thanexpected this year, boosted by lower oil prices and flat inflation that willencourage consumers to spend, according to an influential report published Monday.
The EY ITEM Club's winter forecast predicted gross domestic product growthof 2.9 per cent in 2015 -- higher than its previous estimate and stronger thanthe government's prediction of 2.4 per cent.
The report said lower oil prices would keep inflation at near zero in 2015,boosting the spending power of consumers.