Inflation figures - PwC's senior economic adviser comments

Published at 10:35 AM on 13 October 2015

Commenting on the ONS monthly UK inflation figures out today, Andrew Sentance, senior economic adviser, PwC, said:

"UK inflation continues to be held down by falling food and motor fuel prices. Excluding food and energy, however, inflation is stable at 1% and services inflation has picked up to 2.5%.

"Though prices have fallen slightly over the past year, the risk of persistent deflation is remote. Indeed, as lower food and energy prices start dropping out of the annual inflation rate, we should expect inflation to move back towards 2% next year.

"In the meantime, inflation around zero accompanied by stronger wage increases is boosting consumer incomes and spending, supporting the UK recovery. So we should welcome this period of very low inflation and not worry unnecessarily about deflation."

Ends

Gill Carson
PwC | Media Relations Manager
Office: 020 7212 1391 | Mobile: 07837 285466
Email: [email protected]
PricewaterhouseCoopers LLP
twitter: @gill_carson
http://www.pwc.com/

 


Twitter
LinkedIn
Facebook
Google+

About PwC

At PwC, our purpose is to build trust in society and solve important problems. We’re a network of firms in 157 countries with more than 208,000 people who are committed to delivering quality in assurance, advisory and tax services. Find out more and tell us what matters to you by visiting us at www.pwc.com.

PwC refers to the PwC network and/or one or more of its member firms, each of which is a separate legal entity. Please see www.pwc.com/structure for further details. © 2016 PwC. All rights reserved

« PwC comment on ONS house price data: Small dip in London house prices, but UK picture remains strong | Homepage | Businesses need to take proactive stance on National Living Wage – business survey »

  • Contact us
  • +44 (0) 20 7213 1768

Specific and out of hours contacts