Latest inflation figures to be announced – BBC News

The latest figures are due to be published at 07:00 by the Office for National Statistics.
Latest inflation figures to be announced - BBC News
latest inflation figures to be announced bbc news

Copyright: Getty Images

Today should see the rate at which prices are rising slowing further in February, with inflation easing to about 3.5%.

The very same factors that triggered the cost of living crisis, global food and energy costs have also played a huge part in bringing it down. A fall in the domestic energy price cap should bring it down to below the Bank of England’s 2% target later in spring.

A sharp rise in the price of meals out last February should also help make these figures look better (remember, inflation measures price movements compared a to a year ago).

But some bills continue to climb substantially – particularly those for services, the likes of insurance premiums and mobile phone tariffs. It’s the persistence of that services inflation, which in January was at 6.5%, which concerns the Bank of England, which is charged with taming price pressures.

And that’s why economists still think it’ll be a few months until the Bank is confident that inflation is not only back in line with its target but is set to remain so.

Source: bbc.co.uk

Total
0
Shares
Leave a Reply

Your email address will not be published. Required fields are marked *

Prev
Gucci sales to fall by 20% due to Asia slowdown
Gucci sales to fall by 20% due to Asia slowdown

Gucci sales to fall by 20% due to Asia slowdown

It is estimated to get more than a third of its sales from China, whose economy

Next
Food and eating out costs drive fall in inflation
Food and eating out costs drive fall in inflation

Food and eating out costs drive fall in inflation

February's drop to 3

You May Also Like