Consumer Price Inflation at 2.9% in December and up from 1.9% a month earlier… mmm… that’s not what the experts expected. Not by a long way.
Reuters' story published ahead of the inflation figures had its poll of experts plumping for inflation at 2.6%.
No doubt there will be a lot of post-announcement rationalisation about the figures from economist, but in truth the City and economists at large have consistently underplayed the strength of inflation in their forecasts for some while.
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