Unless there are some factors that I am not aware of affecting the UK, I don’t think that inflation will reach particularly high levels – like, of the COVID-19 sort – in the near future. And inflation normally does bounce around a bit.
Yeah it’s higher than energy, correct. But not stupidly high.
Forecasters expect core CPI, which excludes energy and food prices, to stay at around 3.5 per cent and services CPI, which measures items such as rail tickets and hospitality costs, to drop a little, with Deutsche Bank and Pantheon Macroeconomics saying it could go from 5.7 to 5.5 per cent.
“Positive base effects, mainly from energy prices, will likely push headline inflation higher through the second half of 2024. But there is good news. Services inflation, we expect, should continue its descent – albeit gradually,” said Sanjay Raja of Deutsche Bank Research.
That all suggests that everything apart from energy is still inflating really quickly.
Unless there are some factors that I am not aware of affecting the UK, I don’t think that inflation will reach particularly high levels – like, of the COVID-19 sort – in the near future. And inflation normally does bounce around a bit.
Yeah it’s higher than energy, correct. But not stupidly high.
Excluding energy AND food takes away the area I’ve personally perceived as rising. Food.