Beware base effects The sharp rise in consumer prices inflation revealed in the latest monthly data has inevitably prompted speculation about what's to come. Fully to understand the new figures, however, it's important to remember that we have just passed the first anniversary of the pandemic. ONS Chief Economist Grant Fitzner explains in a blog post that the statistical effects of that landmark need to unravel before the real the path of inflation and other economic statistics becomes clear. Read our blog here. | 
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