UK inflation nearing peak but no end to overshoot in view – Simon Ward

23rd March 2011

"CPI inflation rose from 4.0% in January to 4.4% in February, above the consensus forecast of 4.2% but in line with the projection made by myself  a month ago.

Inflation is forecast to fluctuate in a 4.2-4.5% range over the summer and autumn before subsiding from late 2011 as base effects turn favourable.

It remains well above the 2% target in 2012, however, averaging 2.5%.

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