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UK inflation could fall below 2% this year, Citi forecasts

Falling gas prices and CPI decline could boost public finances before 2024 general election.

Britain’s inflation rate could fall to below 2% by the end of the year, according to new financial industry forecasts, handing the chancellor a boost to the public finances before a general election in 2024.

Investment bank Citi said the CPI was likely to fall to 2.3% in November, below the Bank of England’s estimate of a 4% inflation rate the fourth quarter of the year. Fund manager Investec said it could slide to 1.6% by December.

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Business News: source