Deflation likely to be positive for growth
19 May 2015
Commenting on the latest inflation statistics, published this morning by the Office for National Statistics, Ian Stewart, chief economist at Deloitte, the business advisory firm, said:
“Today’s move into deflation is likely to prove short-lived and positive for growth. Falling prices raise consumer spending power and help keep interest rates low.
“This looks like the mild and benign variety of deflation which is good news for consumers and for growth.”
Notes to editors
In this press release references to Deloitte are references to Deloitte LLP, which is among the country's leading professional services firms.
Deloitte LLP is the United Kingdom member firm of Deloitte Touche Tohmatsu Limited (“DTTL”), a UK private company limited by guarantee, whose member firms are legally separate and independent entities. Please see www.deloitte.co.uk/about for a detailed description of the legal structure of DTTL and its member firms.
The information contained in this press release is correct at the time of going to press.
Member of Deloitte Touche Tohmatsu Limited.