The consultancy Oxford Economics and analysts at Investec and Deutsche Bank have reassessed their outlook for inflation in 2024 and concluded the consumer prices index (CPI), which dropped to 3.9% last November, will fall below 2% within four months.
A slump in energy prices and the cost of oil on international wholesale markets will bring down inflation at a faster rate than the Bank of England expected when it reviewed price rises in November. The independent forecasters said a fresh review next month by the Bank was likely to follow their lead and predict a much lower path for inflation this year.
Before Christmas, members of the BOE's interest rate setting committee said lending rates would remain high during 2024 to reduce the prospect of a return to galloping price rises.
Denne historien er fra January 11, 2024-utgaven av The Guardian.
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Denne historien er fra January 11, 2024-utgaven av The Guardian.
Start din 7-dagers gratis prøveperiode på Magzter GOLD for å få tilgang til tusenvis av utvalgte premiumhistorier og 9000+ magasiner og aviser.
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Swiss police make arrests over reported death in 'suicide' pod
Swiss police have opened a criminal investigation and arrested a number of people after the suspected death of a woman in a so-called suicide capsule.
Durán on target from the spot as Aston Villa pass nervy test
As Emiliano Buendía wheeled towards the nearest corner clenching his fists in celebration, in front of the bank of 1,848 travelling Aston Villa supporters, it was the kind of cathartic moment he longed for on the darker days of his recovery from an anterior cruciate ligament knee injury.
Bolton recall spirit of Allardyce era in pursuit of upset
Wanderers had a reputation for riling Wenger's Arsenal in the early 2000s and they are hoping for another shock
Brook unbowed with masterful ton to drive England home and dry
On a chilly night at Chester-le-Street came an England performance to warm the cockles of the hardy home supporters.
England set to name El-Abd as defence coach after Jones exit
Steve Borthwick is expected to appoint Joe El-Abd as England's new defence coach following Felix Jones's shock resignation amid a summer of upheaval.
Union anger after Boeing makes 'divisive' final offer to end strike
A union representing 33,000 striking Boeing workers has reacted with anger at what the aircraft maker called its \"best and final\" pay offer of a 30% rise over four years.
Brexit checks put plant and flower trade with EU at risk, say UK firms
Exporters of plants and flowers from mainland Europe are turning their backs on supplying Britain as \"painful\" new Brexit border checks are pushing some trading relationships to \"breaking point\", garden centres and nurseries have warned.
Tui expects leap in profits as winter trip bookings rise
Europe's largest travel company expects its annual profits to rise by at least a quarter, helped by people spending more on winter breaks to sunny destinations such as Egypt, Cape Verde, Thailand and Mexico.
Interest rates unlikely to go to near-zero again, Bank governor says
The governor of the Bank of England, Andrew Bailey, has said he expects interest rates to fall gradually but warned consumers not to expect a return to near-zero levels.
Firms question pre-budget timing of investment event
Business leaders have warned that the government's plans for a major global investment summit are in danger of falling flat, amid growing frustrations over the high costs of involvement and its timing two weeks before the budget.
