BoE Inflation Report

Quarterly Inflation Report: Bank of England

  • The MPC continues to judge that the UK economy is set for a slow but sustained recovery in both demand and effective supply
  • CPI inflation is likely to rise further in the near term and may remain above the 2% target for the next two years.
  • Inflation is expected to fall back to around the target thereafter, as a gradual revival in productivity growth dampens increases in domestic costs and external price pressures fade.
  • Growth is likely to remain weak in the near term