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Economic deep dive: Q4 2024

Your quarterly guide to the UK economy; making sense of the key trends and what's driving them.

17 Jan 2025, 1 min read

Quarterly highlights:

Steady pace ahead for the UK economy​

Our latest forecast projects that UK GDP will grow by 0.9% in 2024. Looking ahead, economic activity will increase at a steady, but unimpressive, pace of 1.6% in 2025 and 1.5% in 2026.

Inflation set to remain above 2% through 2026​

CPI inflation rose to 2.6% in November, mainly driven by rising transport costs. We expect inflation to remain consistently above the Bank of England's 2% target rate in 2025 (2.6%) and 20

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