Surge in inflation not here to last says Yael Selfin, Chief Economist at KPMG UK.
Surge in inflation not here to last says Yael Selfin, Chief Economist at KPMG UK:
“Figures released today confirm the underlying weakness of the UK economy, with prices of discretionary goods and services seeing the largest declines, as Brexit uncertainty makes consumers more picky.
“The introduction of Ofgem’s energy price caps is likely to see a series of price jumps, with April’s rise offset by an expected fall in Autumn.
”Businesses should expect CPI inflation to fluctuate around the BoE’s 2% target over the next two years.”
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Notes to Editors:
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.