Press releases

Deloitte comments on today's ONS consumer price inflation figures

24 May 2023

Commenting on today’s ONS consumer price inflation figures, Ian Stewart, chief economist at Deloitte, said:

“UK inflation is past its peak, but it is proving stickier and more embedded than expected. Rising levels of core and service sector inflation highlight the risk that domestic inflation pressures persist, even as the shock fades from high energy costs and other commodity prices.

With growth holding up and recession fears easing, the scene is set for another interest rate rise next month, and perhaps at least one more before the end of the year.”

-Ends-

About Deloitte

In this press release references to “Deloitte” are references to one or more of Deloitte Touche Tohmatsu Limited (“DTTL”) a UK private company limited by guarantee, and its network of member firms, each of which is a legally separate and independent entity.

Please see deloitte.com/about for a detailed description of the legal structure of DTTL and its member firms.

Deloitte LLP is a subsidiary of Deloitte NSE LLP, which is a member firm of DTTL, and is among the UK's leading professional services firms.

The information contained in this press release is correct at the time of going to press. For more information, please visit www.deloitte.co.uk.


Key Contact

Rosy C Taylor

02920 927541
rctaylor@deloitte.co.uk

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