LiveMore comments on drop in inflation
14 December 2022
Simon Webb, managing director of capital markets and finance at LiveMore, commented: “Inflation fell in November to 10.7% from 11.1% with the drop in fuel prices being a contributory factor. However, food prices are still worryingly high, going up by 16.5% and slightly higher than the 16.4% in October, which is the highest rise in 45 years. “
“The hope is that inflation peaked in October and is now on a downward spiral but there is concern about the rise in the energy price cap in April 2023, which could see inflation rise again.”
“The Monetary Policy Committee meets tomorrow and will no doubt raise base rate to try to curb inflation even more, with most people predicting a 0.5% rise. As we move into 2023 it will be a tough time for many people having to tighten their belts.”
