Press releases

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

22 June 2022

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

“Set against inflation of over 9.0%, base interest rates of 1.25% remain by historic standards very low. Significant rate rises lie ahead we expect base rates to more than double in the next six months.

“The Bank of England is presiding over what seems likely to be the sharpest tightening of monetary policy since the 1980s. It is touch and go as to whether the Bank will be able to curb inflation without triggering a recession.”

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About Deloitte

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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.

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