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Deloitte comments on today's ONS inflation figures

20 September 2023

Commenting on today’s ONS inflation figures, Debapratim De, senior economist at Deloitte, said:

“The surprise fall in inflation in August keeps price rises on a reassuring downward trajectory. The easing in core and services inflation is another positive development, but underlying price pressures remain elevated. There is a long road ahead to getting inflation back to its pre-pandemic normal.

“Although many expect the Bank of England to raise interest rates by 25 basis points this week, today's figures will give it some additional room for manoeuvre, should it choose to pause tightening instead.”