Deloitte comments on today’s ONS inflation figures
Commenting on today’s ONS inflation figures, Debapratim De, director of economic research at Deloitte, said:
“The sharp slowing of price rises in January is consistent with expectations of inflation plummeting over the coming months. A substantial reduction in energy bills, much slower rises in regulated prices compared to last year, and a moderation in food price rises are set to bring headline inflation at or close to the Bank of England's 2% target in April.
“This, alongside a softening labour market, should create room for further interest rate cuts. Recent MPC voting patterns and today's data point to an earlier easing than markets foresee. We expect two 25-basis-point cuts between now and autumn, with the first cut coming in April.”
ENDS
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