Commenting on today’s inflation data, Ian Kernohan, Economist at Royal London Asset Management, said:
“CPI remained at 2.6% in July, still above target, but down from its recent peak. The price of fuel was the largest downward contributor, offset by smaller upward contributions from a range of goods and services.
“While there is still some residual impact of sterling devaluation to feed through, with underlying inflationary pressures low, we think that CPI is close to topping out for the immediate future. In their latest Inflation Report, the Bank of England forecast inflation to peak at 3% in the autumn, and will be happy to keep interest rates on hold as a result.”
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About Royal London Asset Management (RLAM):
Established in 1988, Royal London Asset Management (RLAM) is one of the UK's leading fund management companies, providing investment management solutions to both wholesale and institutional clients such as not-for-profit organisations, local authorities and the insurance sector.
RLAM manages £114 billion of assets and employs 92 investment professionals as at December 2018. It invests in all major asset classes including UK and overseas equities, government bonds, investment grade and high yield corporate bonds, property and cash.
For professional clients only, not suitable for retail investors.
Issued February 2019 by Royal London Asset Management Limited, registered in England and Wales number 2244297; authorised and regulated by the Financial Conduct Authority. Registered Office: 55 Gracechurch Street, London, EC3V 0RL.
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