Inflation comment from Phoebus Software

22 April 2026

Richard Pike, sales and marketing director at Phoebus Software:

“Today’s inflation figures are significant – it’s the first CPI data to be published since the Iran conflict began, and more importantly the numbers will have a direct input into the Bank of England’s base rate thinking ahead of the MPC meeting next week.

“The good news for the economy and householders is the price pressures caused by rising oil and fuel prices have been partially offset by both the energy price cap, which reduced on 1 April, and the cooling of underlying inflation, thanks mainly to easing wage pressures. The big question is whether this slight rise in inflation is a temporary energy bump or the start of a more stubborn inflationary phase.

“In the short term, I expect mortgage rates will remain at current levels and volatile. Looking further ahead, if rates do stay higher for longer this will accelerate demand for flexible mortgage servicing in areas such as payment strategies and product transfers where the right servicing software will automate as much as possible to support both users and borrowers.”