Phoebus comment on inflation jump to 3%: "ongoing uncertainty"
19 February 2025
Richard Pike, chief sales and marketing officer at Phoebus Software, said:
"This huge jump in inflation to 3% was probably to be expected given last month’s unexpected drop, and is in line with the Bank of England’s expectations of a gradual rise in inflation leading into the third quarter of the year.
"But it does create ongoing uncertainty and challenges within the UK economy, particularly in the financial services and mortgage markets. While the recent Bank Rate cut offers some relief to borrowers, rising inflation may temper expectations of further reductions in the near term.
"This slight uptick in inflation, with energy prices expected to rise in coming months, reinforces the need for lenders to remain agile, ensuring they can adapt to shifting affordability concerns and evolving borrower needs.”
