Inflation likely to be well above 4% by the end of the year, says IEA expert
Julian Jessop, Economics Fellow at free market think tank the Institute of Economic Affairs, responded to ONS consumer price inflation figures for September 2021
“The small dip in UK consumer price inflation in September, from 3.2 per cent to 3.1 per cent, is good news and probably a relief both to the Bank of England and the Chancellor. But it does not change the big picture: there are huge price pressures in the pipeline, and inflation is still likely to be well above 4 per cent by the end of the year.
“UK food and energy price inflation at least remains low compared to the rest of Europe, as well as the US, despite fears about the impact of Brexit. This partly reflects the strengthening of the pound over the last 12 months, especially against the euro, as the UK economy has rebounded more quickly than expected. In turn, this has helped to keep a lid on import prices.”
Notes to editors
Contact: Emily Carver, Head of Media, 07715942731
IEA spokespeople are available for interview and further comment.
Latest News from
CMA order for Meta to sell Giphy could undermine digital trade and innovation, says IEA regulation expert01/12/2021 10:10:00
Victoria Hewson, Head of Regulatory Affairs at free market think tank the Institute of Economic Affairs, commented on the news that Facebook’s parent company, Meta, has been ordered to sell Giphy by the UK’s Competition and Markets Authority
JRF responds to extension of Scottish Child Payment30/11/2021 15:15:00
JRF responds to the Scottish Government's plan to double Scottish Child Payment for children under six from April, and all eligible children under 16 by the end of 2022.
New ‘pingdemic’ could cost economy at least £2 billion, says economist30/11/2021 11:35:00
Julian Jessop, Economics Fellow at free market think tank the Institute of Economic Affairs, commented on the planned reintroduction of some Covid measures
IFS - Education spending changes put a major brake on levelling up30/11/2021 10:35:00
The cuts to education spending over the last decade are effectively without precedent in post-war UK history, including a 9% real-terms fall in school spending per pupil and a 14% fall in spending per student in colleges.
Scrap energy price cap to prevent further bailouts, says IEA Analyst26/11/2021 10:35:00
Andy Mayer, Environment, Energy and Infrastructure Analyst at free market think tank the Institute of Economic Affairs, commented on the £1.7bn taxpayer bailout of Bulb Energy
The King’s Fund responds to the Health and Care Bill workforce vote24/11/2021 16:25:00
Richard Murray, Chief Executive of The King’s Fund, commented on MPs voting against a plan to require the publication of health and care workforce projections
IFS - English universities ranked on their contributions to social mobility – and the least selective post-1992 universities come out on top24/11/2021 12:10:00
Universities are seen as crucial engines of social mobility, and perhaps with good reason. Individuals eligible for Free School Meals (FSM) in year 11 who attended university are almost four times more likely to be amongst the highest 20% of earners at age 30 than those who did not, and around ten times more likely if they attended one of the four most selective universities in the country.