Deloitte's chief economist comments on today's inflation figures

Commenting on the latest inflation figures, published by the ONS today, Ian Stewart, chief economist at Deloitte, said:

“COVID-19 has delivered a major deflationary shock to the economy. The inflation rate has already halved this year and is set to fall further. A recovery is underway, but the economy is operating with huge amounts of spare capacity that could easily push inflation into negative territory. A deflationary, high risk environment means that monetary policy is set to remain ultra-loose well into 2021.”

End

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