Bank of England (“BoE”) chief economist, Huw Pill, said last week that UK inflation remains too high and too persistent, especially as food prices may not decline in the short term. Pill stated that food price inflation may decline to 10% this year, but actual disinflation in food prices may not occur for some time after this. The BoE now forecasts that inflation will decline to 5% by the end of this year, but will not drop to the 2% target until the second quarter of 2025. Pill commented that higher and persistent inflation in the UK is mostly to do with higher imported goods prices and stressed that much of the monetary policy tightening has yet to impact the economy. However, there are signs that recent rate rises are working through the economy as inflation is falling and the labour market is cooling. The BoE remains committed to monitoring economic data and will continue with monetary tightening until it sees a further slowdown in inflation, but there is increasing optimism that we may be approaching the pivot point after fourteen consecutive rate rises... Stocks featured: Abrdn, Savills and TI Fluid Systems To find out more about the investment management services offered by Walker Crips, please visit our website: https://www.walkercrips.co.uk/ This podcast is intended to be Walker Crips Investment Management’s own commentary on markets. It is not investment research and should not be construed as an offer or solicitation to buy, sell or trade in any of the investments, sectors or asset classes mentioned. The value of any investment and the income arising from it is not guaranteed and can fall as well as rise, so that you may not get back the amount you originally invested. Past performance is not a reliable indicator of future results. Movements in exchange rates can have an adverse effect on the value, price or income of any non-sterling denominated investment. Nothing in this podcast constitutes advice to undertake a transaction, and if you require professional advice you should contact your financial adviser or your usual contact at Walker Crips. Walker Crips Investment Management Limited is authorised and regulated by the Financial Conduct Authority and is a member of the London Stock Exchange. Hosted on Acast. See acast.com/privacy for more information.