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Deloitte comments on today's ONS inflation figures

17 April 2024

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

“Inflation is in retreat but the Bank of England cannot yet be sure that it is beaten. Headline inflation is likely to drop below 2.0% in the coming months, but to be confident it will stay there wage pressures need to ease. With earnings growing at close to 6.0%, and the economy reviving, the Bank will be in no hurry to cut interest rates.”