Deloitte comments on today's ONS inflation figures

Commenting on today's ONS inflation figures, Ian Stewart, chief economist at Deloitte, said:

"Inflation is in retreat but the Bank of England cannot yet be sure that it is beaten. Headline inflation is likely to drop below 2.0% in the coming months, but to be confident it will stay there wage pressures need to ease. With earnings growing at close to 6.0%, and the economy reviving, the Bank will be in no hurry to cut interest rates."

-Ends-

About Deloitte

In this press release references to "Deloitte" are references to one or more of Deloitte Touche Tohmatsu Limited ("DTTL") a UK private company limited by guarantee, and its network of member firms, each of which is a legally separate and independent entity.

Please see deloitte.com/about for a detailed description of the legal structure of DTTL and its member firms.

Deloitte LLP is a subsidiary of Deloitte NSE LLP, which is a member firm of DTTL, and is among the UK's leading professional services firms.

The information contained in this press release is correct at the time of going to press.

For more information, please visit www.deloitte.co.uk