Press releases

Deloitte chief economist inflation figures comment

12 April 2016

Commenting on the latest inflation statistics published this morning by the Office for National Statistics, Ian Stewart, chief economist at Deloitte, the business advisory firm, said:

“The Bank of England can take some comfort from the fact that UK inflation has drifted up from last year’s all-time lows.

“But with inflation running at a quarter of its target rate, and with economic uncertainty rife, the Bank is miles away from raising rates. The Bank’s big problem is sustaining growth and getting inflation up.

“Inflation may have bottomed, but the mounting risks in the global economy, and the continued risk of deflation, means that interest rates are likely to stay on hold until next year.”

End

Notes to editors

About Deloitte
In this press release references to Deloitte are references to Deloitte LLP, which is among the country's leading professional services firms.

Deloitte LLP is the United Kingdom member firm of Deloitte Touche Tohmatsu Limited (“DTTL”), a UK private company limited by guarantee, whose member firms are legally separate and independent entities. Please see www.deloitte.co.uk/about for a detailed description of the legal structure of DTTL and its member firms.

The information contained in this press release is correct at the time of going to press.

Member of Deloitte Touche Tohmatsu Limited.

Mark Smith
Deloitte LLP
+44 (0) 20 7007 7082
+44 (0) 75 9004 1301
marksmith@deloitte.co.uk

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