Press releases

Deloitte senior economist comments on today's inflation figures from the ONS

14 July 2021

Commenting on inflation figures, published by the ONS today, Debapratim De, senior economist at Deloitte, said:

“June's inflation figures provide further evidence that supply, of both raw materials and labour, is struggling to keep up with resurgent demand. Central banks in the UK, US and Europe expect supply bottlenecks and inflation to ease next year once the global recovery finds firmer footing and government support schemes are unwound.

“With millions still on furlough in the UK and firms operating with greater spare capacity than before the pandemic, price pressures may well be transitory. Policymakers are pricing in a recovery that is just right - with strong growth and temporarily higher inflation. That seems likely. But it is by no means assured.”

Ends

Note to Editors

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