What are Cornwall Insight's forecasts for 2024?

Prior to the introduction of the October – December 2023 Default Tariff Cap (price cap), Cornwall Insight has announced its forecasts for 2024. Our new figures predict the price cap for a typical, dual-fuel, direct debit, household will rise by around 3.5% in January.

What will inflation look like in 2024?

The Survey of Professional Forecasters shows the median prediction for 2024 inflation is 2.5% (CPI) and 2.4% (PCE). The Wall Street Journal survey shows similar results. My own forecast is a bit less optimistic, looking for about three percent inflation in 2024, measured from year-end to year-end.

How much will the UK rate fall in 2024?

We are forecasting price falls of -3.0% next year, as the base rate is expected to stay at its current peak well into 2024. However, when the Bank begins to cut rates in the second half of 2024, there will be more capacity for growth, with our UK 5 year figure at 17.9% (compared to last year’s 2023-2027 figure of 6%).

What's the outlook for rental prices in London & Country Markets?

Dan Hill looks at the outlook for mainstream rental values, after a burst of unusually strong growth, while Frances McDonald sets out the detail of our forecasts for prime London and country markets. We are forecasting price falls of -3.0% next year, as the base rate is expected to stay at its current peak well into 2024.