Deloitte chief economist comments on this morning's inflation figures

Commenting on the latest inflation figures, published this morning by the Office for National Statistics, Ian Stewart, chief economist at Deloitte, said:

“Sharply lower inflation is great news for the UK economy. Along with soaring earnings, low inflation boosts consumer spending power just when the economy needs it.

Falling inflation gives the Bank of England more headroom to loosen monetary policy. Corporate investment and manufacturing are weakening, and consumers need to keep consuming to keep UK growth going - lower inflation will help them do just that.”

End

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