Q3 Inflation 0.7%
Thursday, October 27, 2016 at 4:05PM Click here for our Clash of the Titans page.
Q3 '16 Inflation: 0.7%
Average Prediction: 0.7%
Number of Correct Forecasts: 40/558
Highest Oil Price: $53 (8th Jun)
Competition Progress: 92.3% complete
Q3 inflation followed a similar path to Q1 and Q2, with two months of stable inflation (0.6%) preceding an increase in the third month (although the increase in Q3, to 1%, was more dramatic). Rises in the cost of fuel and clothes have contributed to the highest quarterly inflation figures since 2014.
The average forecast was in line with actual Q3 figures, with 40 correct predictions. Out of the people who incorrectly forecasted Q3 inflation, the majority (55%) believed that the general rise in price level would be lower.
None of our Titans managed to accurately predict this quarter’s average inflation, although some were closer than others. Jonathan Portes (Oxford) predicted 0.5% while Sean Holly (Cambridge) predicted 1%. Rain Newton-Smith’s (LSE) prediction was further off the mark at 1.4%, pushing her down the ranking.
Click here for a summary of the results so far, or here for the full standings.
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