Inflation figures - PwC's senior economic adviser comments

Published at 12:04 PM on 15 December 2015

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

"Inflation has been around zero for most of this year, so this slight rise is not a change in the big picture. Falling energy and food prices have held down inflation, though the prices of services bought by consumers have continued to rise at over 2% per annum. In the short-term inflation is likely to remain around zero, as a new round of falling petrol prices is underway. But over the course of next year, we should expect a gradual rise in inflation to 1-2%.

"This is not a worrying level of inflation, but should provide a signal to the MPC that they should start the process of normalising interest rates - moving borrowing costs up gradually. The expected rise in US interest rates tomorrow should provide another signal in the same direction."

Ends

 

 

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


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