UK businesses forecast price inflation drops throughout 2024

In the Bank of England's monthly Decision Maker Panel survey, 2,352 CFOs reported that although their annual price inflation rose by 5.6% in the three months to January, it fell from 5.9% in Q4 2023. When asked about their output price inflation forecasts, the business executives predicted it to decline over the year, with year-head figures expected to drop to 4.3% for the three months to January - down 0.1 percentage points from Q4 last year. UK businesses forecast sizeable drop in inflationary pressures As a result, UK CFOs have forecast a 1.3 percentage-point drop in output pric...