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Stagnant Inflation Outlook Remains


"Wage and price pressures remain subdued. The CPI increased by just 0.9 over the year to the December quarter and wages (as measured by the Wage Price Index) are increasing at the slowest rate on record. Both inflation and wages growth are expected to pick up, but to do so only gradually, with both remaining below 2 per cent over the next couple of years. In underlying terms, inflation is expected to be 1¼ per cent over 2021 and 1½ per cent over 2022."

  • No meaningful change in the Bank's inflation outlook, with underlying CPI expectations marked 0.25 ppt higher for '21, and still comfortably shy of 2.0%.
MNI London Bureau | +44 0203-865-3809 |