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Slowing inflation should keep future interest rate rises at bay

Slow inflation keeps future interest rate rises at bay

Yael Selfin, Chief Economist at KPMG UK, comments on today’s inflation figures.

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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.” 

 

-ENDS-

 

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About KPMG in the UK

KPMG LLP, a UK limited liability partnership, operates from 22 offices across the UK with approximately 16,300 partners and staff. The UK firm recorded a revenue of £2.338 billion in the year ended 30 September 2018. KPMG is a global network of professional firms providing Audit, Tax, and Advisory services. It operates in 154 countries and has 200,000 professionals working in member firms around the world. The independent member firms of the KPMG network are affiliated with KPMG International Cooperative ("KPMG International"), a Swiss entity. Each KPMG firm is a legally distinct and separate entity and describes itself as such.

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