Deloitte senior economist comments on today's inflation figures has been saved
Deloitte senior economist comments on today's inflation figures
17 August 2022
Commenting on the latest inflation figures, published by the ONS today, Debapratim De, senior economist at Deloitte, said:
“With inflation above 10% and widely expected to rise further as energy bills increase, base interest rates look fairly low at 1.75%. We expect swift action from the Bank of England with the base rate potentially doubling by this time next year.
“As the Bank moves aggressively to crush double-digit inflation, we are forecasting a 1.6% contraction in activity between this autumn and the next. This is a much smaller contraction than the pandemic but, with a sharp squeeze on consumer spending power and likely rise in unemployment, will feel significantly disruptive.”
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