Don't get used to lower inflation (opens in new tab)

Responding to the latest inflation statistics, William Ellis, senior economist at IPPR, said: “Headline inflation easing to 2.8 per cent is not expected to continue. The Iran conflict only began at the end of February, and higher oil and gas prices take time to feed through — the real impact will land when Ofgem resets the energy price cap next month.“Without action, IPPR modelling suggests inflation could peak as high as 5.8 per cent this year. The Treasury could lose up to £8 billion a year...