Treasury predicts inflation peaking at ‘normal’ 3.5%
Saturday 13th February 2010, 2:29PM GMT.
INFLATION is predicted to rise to 3.5% during the first quarter of 2010 from 2.9% at the end of December.
The figure was forecast for both RPI and RPIX in a Policy Council inflation outlook report.
RPI is subsequently forecast to rise for two more quarters before dropping slightly later in the year but RPIX, which ignores mortgage rates, is expected to decline once hitting that figure.
States economist Dr Andy Sloan (pictured) said the forecast indicated a return to normal.
‘In the absence of any unforeseen shocks, inflation will be relatively benign throughout 2010 and relatively well behaved.’
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