Samuel Tombs
| Use attributes for filter ! | |
| Alma mater | University of Oxford |
|---|---|
| Date of Reg. | |
| Date of Upd. | |
| ID | 1342963 |
About Samuel Tombs
Samuel Tombs is an award-winning British economist. He is the Chief U. K. Economist of Pantheon Macroeconomics, an economic research firm located in Newcastle, England, with an office in White Plains, . . .
UK economy grew faster than estimated since Covid
... " Samuel Tombs, chief UK economist at Pantheon Macroeconomics, noted that when it came to international comparisons, " a stable picture might take some time to emerge, given that statistical authorities in other countries are revising their data too"...
Food prices remain worryingly high, says Chancellor Jeremy Hunt
... Samuel Tombs of Pantheon Macroeconomics predicts that another interest rate rise is " now is firmly on the table" when the Bank of England meets on 22 June, potentially lifting borrowing costs from 4...
Mortgage lenders halt some deals after pound falls
... Samuel Tombs, chief UK economist at Pantheon Macroeconomics, said if interest rates rise as predicted, the average household refinancing a two-year fixed rate mortgage in the first half of next year would see monthly payments jump to £1,490 from £863...
Plan B: How will the changes affect the economy?
... " It seems that consumers confidence has been knocked back by news of the new variant, " wrote Pantheon s chief economist Samuel Tombs in the research note...
Nationwide: UK house prices continue surge, up 10% in November
... Samuel Tombs, chief UK economist at Pantheon Macroeconomics, suggested linked mortgage rates could also head upwards as a result...
The decline in inflation increased the prospects of interest rate cut
... On Sunday, MPC member Gertjan Vlieghe told the Financial Times, depending on how the economy has already taken off since the December election the members of the MPC could make the current inflation figure with a pinch of salt, said Samuel Tombs, chief UK economist at Pantheon macroeconomics...
UK house price growth low for a year, says Nationwide
... Samuel Tombs, chief UK economist at Pantheon Macroeconomics, said: November s month-to-month gain in Nationwide s index was the biggest since July 2018, indicating that support from the recent fall in mortgage rates is starting to kick in...
Inflation falls to three year low as energy prices fall
... But Samuel Tombs, chief UK economist at Pantheon Macroeconomics, said the inflation measure should rise back to 2% in the second half of 2020 so he doubted that rates would be cut soon...
Inflation falls to three year low as energy prices fall
UK Inflation rose at its lowest pace in almost three years last month as the energy cap kept a lid on The Price of electricity, gas and other fuels, according to official statistics.
The Office for National Statistics (ONS) said consumer prices rose 1. 5% in October, against 1. 7% in September.
Energy regulator Ofgem lowered price caps last month.
The slower pace of price rises could boost household spending power as wages are rising faster than Inflation .
showed that average earnings, excluding bonuses, increased by 3. 6% in the three months to September.
The October Inflation number was lower than the 1. 6% forecast by economists, although The Bank of England has said Inflation could slip to 1. 25% early next Year - Well below its 2% target.
A spokesperson for the ONS said: "A Fall In utility prices due to a lowering of the energy price cap helped ease Inflation in October. However, this was partially offset by rising clothing prices. "
Prices of clothes and footwear rose by 1% on the previous month, the ONS said, with The Most significant price moves being in ladies' formal trousers and branded trainers.
Analysis:Andrew Walker , BBC World Service economics correspondent
The Bank 's policy makers expect The Decline in Inflation to continue in The First half of next Year , due partly to the impact of the energy price cap and a likely reduction in water bills.
But they think those factors will fade and Inflation will move back towards The Target in the latter part of 2020. So the October data doesn't very much change the argument about the next move in interest Rates .
Two big uncertainties are perhaps more likely to move the dial: Brexit and the slowdown in the global economy.
Indeed The Bank has already signalled as much. Persistent Brexit-related uncertainty and further weakness in global growth could mean it "might need to reinforce the expected recovery in UK GDP growth and Inflation " - in other words cut interest Rates .
If those risks don't materialise a rise would be more likely. But no move is imminent.
Gas and electricity prices fell by 8. 7% and 2. 2% respectively in October from September.
Ofgem said that around 15 million households on default deals or pre-payment meters will see lower bills this winter as a result of its latest cap on prices which took effect from October.
The cap means that households should typically pay £75 Less a Year .
Howard Archer, chief economic advisor to the EY Item Club, said the Inflation figures were "decent news for consumer purchasing power".
The 3. 6% rise in wages in the three months to September compares with an Inflation rate of 1. 8% over the period.
Jing Teow, economist at PwC, said: "The continued trend of falling Inflation since late 2017, coupled with the steady rise in wages since 2018, has boosted household spending power, which has supported UK Economic Growth over The Past two years. "
But She Said there were signs that pay growth was "cooling off" since peaking in June this Year , which might also put Less pressure on firms to raise prices.
The Inflation rate has implications for interest Rates . Ruth Gregory , senior UK economist at Capital Economics, said The Falls in energy prices meant that The Drop in Inflation was not "a reflection of a weakening in underlying inflationary pressures".
She expects a further Fall In utility prices in April next Year .
"Overall, the figures do little to change our view that Inflation will spend more time below 2% than above it in 2020 and that if Brexit is delayed further, interest Rates will be cut in May 2020," She Said .
Emma-Lou Montgomery, associate director for personal investing at Fidelity International , also said there could be pressure to cut in Rates - currently at 0. 75% - early in 2020.
But Samuel Tombs , chief UK economist at Pantheon Macroeconomics, said the Inflation measure should rise back to 2% in the second half of 2020 so he doubted that Rates would be cut Soon .
office for national statistics, uk economy, ofgem, inflation, energy industry
Source of news: bbc.com
