Bank of England Receives a Festive Surprise This Christmas
To be ultra clear, prices are still rising. But they aren’t rising as rapidly as they were. And they aren’t rising as rapidly as the vast majority of analysts — not to mention the Bank of England — had expected.
The consumer prices index (CPI — the rate the Bank of England is meant to keep in a one percentage point band around 2%) is now rising at 3.9%. That’s down from 4.6% in October. Analysts had expected 4.3%, and at its most recent set of forecasts, the Bank had expected 4.6%.
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