BDO’s output index of gross domestic product reached its highest level in a decade, up from 100.8 in January this year to 101.4 last month, which suggests that the consumer price index could rise above the Bank’s inflation target of 2%.
One analyst said the BDO survey suggested that price pressures were building significantly – but it is in sharp contrast to official figures, which show UK inflation down to just 1.1% in March.
‘The chancellor shouldn’t start celebrating yet,’ said Peter Hemington, partner at BDO Stoy Hayward.
‘Consumer spending is still contributing heavily to the boom but this will change as debt burdens increase with higher interest rates.’
The monetary policy committee will decide on Thursday whether to push interest rates above 4%.
Harrison Beale & Owen will (HB&O) have a new chairman and managing director at the helm for 2017
Satvir Bungar promoted to managing director in the mergers and acquisitions team
Carolyn Brown appointed as the first head of client legal services practice RSM Legal
UK senior partner Phil Verity has been elected for a second term at Mazars