Movera comment on today's inflation spike

20 November 2024

Please find a comment below from leading home moving group Movera on today's inflation increase:

Warren Martin, Director of Operations at ONP Solicitors part of Movera, commented

“Today’s inflation figures reflect the ongoing pressures on households, with the CPIH rising to 3.2% climbing by 2.3% from October. The stark monthly increases, driven partially by rising energy costs, underline how volatile key expenditure areas remain. The challenge now is balancing economic recovery with affordability concerns, especially as housing costs remain a significant contributor.

"Looking ahead, if energy prices don’t rise further inflation could hopefully stabilise over the coming months. However, with the Bank of England likely to stay cautious, a base rate cut still feels out of reach until early 2025. In the meantime, households and businesses will need to carefully navigate this period of uncertainty.”