Analysis: The inflation challenge


The Consumer Prices Index measure of inflation hit 6.2% in February its highest level in 30 years. The Bank of England had forecast at the start of February that it will reach 7.25% this year before falling back to around 2% in a couple of years. In mid-March it revised the forecast to “around” 8% in the second quarter and “perhaps even higher later this year” (see graph, below).

In February Allianz UK CEO Colm Holmes warned: “Inflation is probably the big factor in the rating environment in

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