We think food inflation is close to its peak and that it will fall next year. Not only will this help to bring down CPI inflation, it will also assist in easing inflation expectations. This may relieve some of the Bank of England’s worries about the upside risks to inflation and allow it to resume interest rate cuts next year.
We’re hosting a 20-minute online briefing on Wednesday 22nd October at 9.30am BST, shortly after the release of September’s CPI figures, to discuss whether CPI inflation has peaked and the implications for both the Bank of England and the Chancellor. (Register here.)
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