Analysis

Briefing: ‘Inflation is not fundamentally bad for the industry’ despite uptick to 11.1%

By 2022-11-18T08:47:00

inflation (7)

But factoring claims inflation into premiums could impact insurers’ profitability in the short term, says head of market intelligence

This week, the Office for National Statistics (ONS) once again confirmed that inflation’s upwards trajectory is fast continuing in the run up to Christmas.

Its Consumer price inflation, UK: October 2022 bulletin, published on 16 November 2022, revealed that the Consumer Prices Index (CPI) climbed 11.1% in the 12 months to October 2022 – an increase on the 10.1% uptick it recorded for the year to September 2022.

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