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Bailey: Letter from the Governor to the Chancellor
On 21 May 2025, the Office for National Statistics (ONS) published data showing that twelve-month inflation in the Consumer Prices Index (CPI) was 3.5% in April. On 18 June, the ONS published data showing that CPI inflation was 3.4% in May. This letter sets out the outlook for inflation and the policy action the Monetary Policy Committee (MPC) is taking to return inflation to the 2% target, along with other considerations required by the MPC’s remit when inflation moves away from the 2% target by more than 1 percentage point. Why has inflation moved away from the 2% target? Consumer price inflation has fallen ... (full story)
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- Jun 19, 2025 8:37am Posted byFundamental Analysis4,428
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