Deloitte comments on today's ONS inflation figures
Commenting on today’s ONS inflation figures, Ian Stewart, chief economist at Deloitte, said:
“Britain’s inflation rate has more than doubled since last September and is running well above levels in the US and the euro area. Higher inflation puts an August interest rate cut in jeopardy. Inflation is expected to fall back towards the end of this year, but in the meantime the pressure on the Bank of England will be to keep interest rates higher for longer.”
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