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MNI: Earliest Base Effect Respite For UK Inflation April-ONS

(MNI) London

Base effect will only begin to ease UK inflation in April, the ONS says.

There will be little in the way of a cost-of-living respite for UK consumers in coming months, with any major easing in inflation unlikely until base effects kick in in April 2023, the Office for National Statistics told MNI Wednesday,

Even on the assumption that monthly increases flatline from here on out, the annual inflation rate will decline only very modestly through the summer and autumn, and could see a significant uptick in October as the next round of higher household energy costs kicks in, spokesperson for the national record keepers said.

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There will be little in the way of a cost-of-living respite for UK consumers in coming months, with any major easing in inflation unlikely until base effects kick in in April 2023, the Office for National Statistics told MNI Wednesday,

Even on the assumption that monthly increases flatline from here on out, the annual inflation rate will decline only very modestly through the summer and autumn, and could see a significant uptick in October as the next round of higher household energy costs kicks in, spokesperson for the national record keepers said.

Keep reading...Show less