Skip to main content

Deloitte comments on today's ONS consumer price inflation figures

24 May 2023

Commenting on today’s ONS consumer price inflation figures, Ian Stewart, chief economist at Deloitte, said:

“UK inflation is past its peak, but it is proving stickier and more embedded than expected. Rising levels of core and service sector inflation highlight the risk that domestic inflation pressures persist, even as the shock fades from high energy costs and other commodity prices.

With growth holding up and recession fears easing, the scene is set for another interest rate rise next month, and perhaps at least one more before the end of the year.”