Future Retirement Success
  • Politics
  • Business
  • Investing
  • Stocks
  • Politics
  • Business
  • Investing
  • Stocks

Future Retirement Success

Business

Inflation forecast hit two-year low

by March 16, 2024
March 16, 2024
Inflation forecast hit two-year low

Inflation in the UK is projected to have decelerated to a two-year low in February, with economists cautioning that the Bank of England’s 2 per cent target may not be met in the upcoming months.

Official data scheduled for release next Wednesday is anticipated to reveal that consumer prices inflation stood at 3.5 per cent last month, marking the slowest pace since September 2021 and a significant decrease from the 4 per cent recorded earlier this year.

In Britain, inflation has been steadily declining since reaching its peak of 11.1 per cent in October 2022. High interest rates and reduced global energy costs have tempered price growth, which has remained above the Bank’s 2 per cent target rate since July 2021.

Economists predict that February’s inflation rate will be influenced by low energy prices, a deceleration in food prices inflation, and a drop in used car values. They have also cautioned that robust disinflationary pressures and tight monetary policy could push inflation below the 2 per cent target this year, signaling the need for interest rate cuts.

Benjamin Nabarro, an economist at Citi, remarked, “Inflation is now on a path at least back to target, if not below.” He emphasized that data continues to move in a disinflationary direction. The Office for Budget Responsibility recently revised its forecasts, indicating that inflation would dip below the 2 per cent target in spring and remain at that level for the rest of the year. Conversely, the Bank’s forecasts suggest that inflation will rise in the second half of 2024 and only meet the 2 per cent target in 2025.

The Bank of England’s policymakers are set to announce their latest decision a day following the release of inflation figures. They are expected to maintain borrowing costs at 5.25 per cent and closely monitor inflation in the services sector, which has become a crucial factor in determining the future trajectory of interest rates. Nabarro estimates that services inflation, which was at 6.5 per cent in January, may decrease to 6 per cent in February.

Read more:
Inflation forecast hit two-year low

0
FacebookTwitterGoogle +Pinterest
previous post
How To Profit From Bullish Gap-Down Reversals
next post
Over a thousand civil servants threaten strike action over flexible working

You may also like

How To Build HRtech Products Recruiters Actually Use

May 28, 2025

Ozan Electronic Money Boosted Its Growth Streak in...

March 19, 2024

4 Go-To Ways To Increase eCommerce Sales

August 30, 2023

From Graduate to Groundbreaker: Dame Alison Rose’s 30-Year...

June 17, 2025

How to Remove Objects from Photos Online: A...

September 25, 2024

AstraZeneca moves $360M investment in a new manufacturing...

February 9, 2023

A public inquiry has begun into London Luton...

September 27, 2022

Entrepreneur takes financial hit to protect customers from...

January 12, 2023

Redundancies and Trust: Can the two coexist?

August 29, 2023

Innovate UK Launches £100 Million AI Fund for...

April 26, 2023

    Get free access to all of the retirement secrets and income strategies from our experts! or Join The Exclusive Subscription Today And Get the Premium Articles Acess for Free

    By opting in you agree to receive emails from us and our affiliates. Your information is secure and your privacy is protected.

    Recent Posts

    • UK Export Finance unveils new tools to boost SME global trade

      June 27, 2025
    • Republicans raise alarm over US vulnerability to mass drone strikes after Israel-Iran conflict

      June 27, 2025
    • Manchester businessman cleared of hacking charges in ICO case

      June 27, 2025
    • Winners announced at Isle of Man Innovation Challenge 2025

      June 27, 2025
    • Padel club boom sees 3,200 venues built in 2024 as global popularity accelerates

      June 27, 2025
    • Sweet or taxable? M&S strawberry sandwich sparks new VAT debate

      June 27, 2025

    Categories

    • Business (8,329)
    • Investing (2,074)
    • Politics (15,825)
    • Stocks (3,172)
    • About us
    • Privacy Policy
    • Terms & Conditions

    Disclaimer: futureretirementsuccess.com, its managers, its employees, and assigns (collectively “The Company”) do not make any guarantee or warranty about what is advertised above. Information provided by this website is for research purposes only and should not be considered as personalized financial advice. The Company is not affiliated with, nor does it receive compensation from, any specific security. The Company is not registered or licensed by any governing body in any jurisdiction to give investing advice or provide investment recommendation. Any investments recommended here should be taken into consideration only after consulting with your investment advisor and after reviewing the prospectus or financial statements of the company.

    Copyright © 2025 futureretirementsuccess.com | All Rights Reserved