Access FS comments on CPI inflation

19 August 2026

Karl Wilkinson, founder and CEO of Access FS, said:

“July's inflation rise will come as little surprise given the pressure that rising energy costs have been putting on households and businesses, but it will still be a frustrating step backwards for the Bank of England. After the progress we've seen in recent months, the last thing rate setters need is another reminder that inflationary pressures can return quickly.

“The important question now is whether this is a temporary bump or the beginning of something more persistent. With wage growth also starting to cool and the labour market losing momentum, the Bank must balance the risk of inflation becoming entrenched against the risk of putting further pressure on an already weakening economy.

"For brokers, this is another reminder that clients need context rather than predictions. There is still plenty of competition among lenders and opportunities for borrowers, but we shouldn't allow another inflationary surprise to make customers sit on their hands. Advisers need to be proactive, explain what the data actually means for individual borrowers and help clients make decisions based on their own circumstances rather than trying to time the market."