UK Inflation Will Soon Fall to Match Rest of World, BOE Official Says
- Chief Economist Huw Pill says rates won’t drop to near zero
- Figures due next week will show a sharp drop in inflation rate
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Bank of England Chief Economist Huw Pill said UK inflation will soon fall in line with the lower rates seen in the rest of the world, reflecting a drop in energy bills.
Pill said there will be a “sharp further fall” in the inflation rate to below 5% in October that will help partially bridge the gap between price increases in the UK and the US and the eurozone.