has fallen, these numbers show that absolutely no room for complacency for their battle against inflation. feed price inflation is still worryingly high, that is why we have had feed producers in farmers, and supermarkets into talk about what we can do to reduce the pressure there. let s get some analysis from yael selfin, chief economist at kpmg uk. they say there is still to be done, can you explain the core inflation for us? , , ., , can you explain the core inflation for us? ,, . , ., can you explain the core inflation for us? ,, . , . . for us? essentially, we did have a reduction in for us? essentially, we did have a reduction in inflation for us? essentially, we did have a reduction in inflation because - for us? essentially, we did have a| reduction in inflation because that big increase in inflation because of the inflation of ukraine and rising energy prices is now largely out of the year on year comparison but what we have is other parts of the inflation that is the bask
targets. at the same time, serious financial stability related and downside risks of emerge. in her latest forecasts, the growth will bottom out at 2.8% this year before rising modestly to 3% next year and almost unchanged from january projections. global inflation will ease and more slowly than anticipated from 8.7% to 7% this year and 4.9% next year. with me is yael selfin, who is the chief economist at kpmg uk. welcome to the programme. can we start with figures relating to the europeans to the uk and germany and the europeans it seems struggling to come out of this much worse than the
has gone up by £251. that s $309. let s hearfrom one homeowner in cambridge, whose mortgage bills have gone up so much, he s at risk of being forced to sell: it takes your breath away. whenever you see a santander envelope come through the letterbox. you think, oh, god, not another one. you despair quietly, inwardly. some people certainly feeling the pressure. joining me now is yael selfin, chief economist at kpmg uk. thank you for coming on the programme. what you make of this latest rise? are we nearing the top? i think we are. we have had very steep increase in interest rates and a short period of time, and even though we had this unexpected increase in inflation based on the data released yesterday, generally we are expecting inflation to fall very quickly this year. if we are expecting inflation to fall very quickly this year. iii it we are expecting inflation to fall very quickly this year. very quickly this year. if it does, does that mean very quickly this year. if it doe
ahead of wednesday s budget by the chancellor is expected to set out plans to encourage people back into work. the number ofjobs on offer between december and february fell ljy between december and february fell by 51,000 compared with the three months before. the unemployment rate remains at 3.7%, low by international standards. speaking to me now is the chief economist at kpmg uk. give me some analysis of these figures. kpmg uk. give me some analysis of these figures- these figures. essentially we still have a very these figures. essentially we still have a very tight these figures. essentially we still have a very tight level these figures. essentially we still have a very tight level markets i these figures. essentially we stillj have a very tight level markets in the uk, meaning on the one hand the bank of england may be a little bit more worried because it is quite likely that wage pressures would remain relatively higher, but on the other hand it means the economy general
looking for work, you know, the unemployment rate is quite low. now, if the economy is shrinking, that means companies on the whole make less profit, which means they have less money available to expand or give their workers a pay rise. and if people earn less and spend less, that means that the government takes in less money in tax revenue, which makes all those tricky decisions about how to fund important public services like the nhs all the more difficult. the prime minister has pledged to get the economy growing again by the end of the year. today s gdp figure will give another indication of how difficult that promise could be to meet. ben king, bbc news, worcester. joining me now is yael selfin, chief economist at kpmg uk. good morning, thank you forjoining us on bbc news. you have been quenching the figures, what do you make of the announcement? today s