Inflation figures due this week are expected to show prices remaining stubbornly high. The Consumer Price Index (CPI) measure of inflation stood at 10.5 per cent in December. Counting the cost: Inflation figures are expected to show prices remaining stubbornly highThe figures come after it was confirmed on Friday that the UK narrowly avoided recession as it eked out growth in the fourth quarter of 2022. Samuel Tombs, at Pantheon Macroeconomics, said the latest inflation data 'probably will make MPC members wince'. Bank of England Governor Andrew Bailey has argued the UK has 'turned the corner' in the fight against inflation, saying it would fall to 4 per cent by the end of this year.

Source: Daily Mail February 12, 2023 09:33 UTC