Interest rates to rise despite inflation falling
A closer look at the ONS figures suggest Rishi Sunak’s pledge to halve inflation by the end of the year could still be in jeopardy.
A closer look at the ONS figures suggest Rishi Sunak’s pledge to halve inflation by the end of the year could still be in jeopardy.
Rishi Sunak’s pledge to halve inflation is being cast into doubt after an especially gloomy new set of data on price rises in Britain.
Daily Briefing: Falling inflation is mainly because of lower petrol and energy costs. Yet food prices are still soaring.
The good news is that UK inflation is expected to fall sharply next year. The bad news is it might stay uncomfortably high for some time.
Even if the odds look slim of price rises on a similar scale, reminding ourselves of the risks might just help us avoid them.
As global demand bounces back, a prolonged period of rising prices could be on the cards.
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