Uk Inflation Forecast 2024 2025

Uk Inflation Forecast 2024 2025. Forecasts for the uk economy: We raised the uk’s most important interest rate (bank rate) from 0.1% to 0.25% in december 2021, to 0.5% in february 2022, and then again to 0.75% in march.

Real gdp growth is now forecast at 0.7 percent in 2024 (a slight upgrade from the 0.5 percent in the april weo), before rising to 1.5 percent in 2025 as disinflation buoys real. In all of the bank’s 2025 inflation forecasts, cpi remains above the 2% target in a year’s time, before falling below target in 2026.