Inflation set for sharp fall, says Andrew Bailey
Bank of England governor delivers upbeat forecast
Governor of the Bank of England Andrew Bailey was speaking at the British Chambers of Commerce global annual conference in London
EPA
The UK’s double-digit inflation has begun to come down, figures out next week are expected to show, and it will continue to fall sharply in coming months, according to the governor of the Bank of England.
Andrew Bailey said at the British Chambers of Commerce’s annual conference that a big drop in energy prices would soon be felt in the measurement of annual inflation, which calculates the difference in price rises this year compared to the surge after Russia’s invasion of Ukraine.
New inflation figures for April will be released next week and are expected to show a decline to about 9.5 per cent after the stronger-than-expected 10.1 per cent recorded in March.
These dynamics mean that “energy prices should begin to pull overall inflation
