Using the UK Office of National Statistics data for the Consumer Price Index, PwC have visualised some of the most common categories in order to understand the market trends in inflation (to see the graph, please click the link below).
Headline inflation took another small step on the path back to target as it declined from 3.4% to 3.2% in March. Most of this can be explained by lower food inflation, which is now falling at a rapid pace.
PwC expects that next month’s inflation release will mark an important milestone as headline inflation potentially falls below the Bank of England’s 2% target for the first time in nearly three years. With inflation falling back relatively rapidly, the Bank of England has a difficult balancing act to manage
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