Halister News

(Bloomberg) -- It’s entirely possible U.K. inflation will reach 3% in 2017, and even 4% is not out of the question should Brexit negotiations take a turn for the worse, CEBR’s managing economist Nina Skero writes in emailed comments.

• The greatest contributing factors behind today’s headline figure were rising prices for clothing, hotels, and motor fuels, while food and air fares declined
• As many consumer goods are imported, the weaker pound is already leading to a rise in prices and will continue to do so
• It’s only a matter of time before companies announce price hikes, especially given that the government now appears more likely to pursue a ‘hard Brexit,’ adding to economic uncertainty