Yael Selfin, Chief Economist at KPMG UK, comments on today’s inflation figures.
Yael Selfin, Chief Economist at KPMG UK, comments on today’s inflation figures: “Troubles on the high street and lower oil prices saw the price of goods fall in December, with overall CPI inflation rising by a mere 0.1% and taking the annual rate within a whisker of the Bank of England’s 2%, ahead of expectations.
“The latest inflation figures show the UK economy is further away from overheating despite low unemployment and a recovery in wages. Extended uncertainty over Brexit coupled with consumers’ and businesses’ reluctance to commit, means that prices are likely to remain subdued.
“This together with a lack of meaningful signs of accelerating inflation, should see the Bank of England keep interest rates on hold for the first half of this year at the minimum.”
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