IEA Economics Fellow Julian Jessop has been quoted in The Daily Express responding to news that the rate of inflation fell to 2.3% in April, its lowest level since July 2021.

Julian said:

“The fall in UK inflation from 3.2 percent in March to 2.3 percent in April was slightly smaller than expected, but still another big step in the right direction.

“April was always going to be a tricky month as wages and other costs which are indexed to inflation caught up with the previous increases. The unusually large hike in the National Living Wage took effect last month too.

“These are lagging indicators and policy should be forward-looking. Monetary growth has now settled at rates consistent with low and stable inflation, and there are plenty of signs that the labour market is cooling. Energy and food inflation also have further to fall.”

Read the full article here.

Julian was also quoted in The Daily Telegraph, Yahoo!, and Wealth Briefing.

Read his full response here.