NIESR Press Note – Head of UK Macroeconomic Forecasting reacts to the latest CPI inflation data released today

Published: 13th June 2018

*FOR IMMEDIATE RELEASE*

Commenting on the latest CPI inflation data NIESR’s Head of UK macroeconomic forecasting, Amit Kara said: "CPI inflation held steady at 2.4% in May in spite of a 5 pence rise in petrol & diesel prices. Inflation is now well below the recent peak of 3% in December and is likely to continue falling over the course of the year as the effects of the Brexit-induced currency deprecation fades. This will be offset to some extent by rising wages and higher unit labour costs. Lower inflation & higher nominal wages will help lift household real income growth this year."

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