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The UK Economy

Section I. Recent developments and summary of the forecast

Published online by Cambridge University Press:  26 March 2020

Richard Kneller ,
Rebecca Riley  and
Garry Young
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Extract

One of the unusual features of the British economy in recent years has been the remarkable stability of inflation. RPIX inflation has not moved by more than half a percentage point of its 2½ per cent target since the end of 1996, suggesting that aggregate demand has been fairly close to supply throughout this period.

Type
Articles
Information
National Institute Economic Review , Volume 172 , April 2000 , pp. 8 - 17
Copyright
Copyright © 2000 National Institute of Economic and Social Research

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Footnotes

∗

The forecast was compiled using the latest version of the National Institute Domestic Econometric Model. We are grateful to Andy Blake, Ray Barrell, Nigel Pain and Martin Weale for comment and discussion.

References

Notes

1 ‘The Goal of Full Employment: Employment Opportunity for all Throughout Britain’, HM Treasury, February 2000.