UK businesses forecast price inflation drops throughout 2024

BoE survey

UK businesses have expressed optimism for the year ahead, predicting falls in both price and overall inflation figures.

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...