CITY AM – Inflation panic: It’ll be over by Christmas
CITY AM says Inflation may remain above the Bank of England’s two per cent target for the next few years as price increases have increasingly spilled over into the wider economy, a think tank warned today.
According to forecasts from the National Institute of Economic and Social Research (NIESR), inflation is forecast to fall to 5.2 per cent by the end of this year, before falling to 3.9 per cent by the end of 2024.
Beyond next year, the think tank forecasts inflation to fall to 2.3 per cent in 2025, with it remaining marginally above the two per cent target until at least 2027.
NIESR also warned that there were “significant risks” to its forecasts which could result in inflation being higher than anticipated.
Catch up on the business pages here
