The Monday Briefing, written by Ian Stewart, Deloitte's
Chief Economist in the UK, gives a personal view on topical
financial and economic issues. Please feel free to forward the
Monday Briefing to your clients, colleagues and friends who can, in
turn, subscribe to it at:
* High inflation has been one of UK's most persistent
problems since the financial crisis.
* In the five-year period starting 2008, UK consumer prices have
risen at an average annual pace of 3.3% - significantly faster than
the Bank of England's 2% target and more than twice as fast as
in the decade preceding the crisis.
* This might seem like a call to arms for the Bank which is
tasked with maintaining price stability. Yet, it has been missing
its inflation target for 38 consecutive months since December
2009.
