Deutsche Bank's senior economist Sanjay Raja pointed out in a report that inflation in the United Kingdom will remain stable in the first half of this year. Given the 6.7% increase in the minimum wage and the rise in the national insurance tax paid by employers, inflation in the service sector will remain high, and the momentum of price increases will only accelerate. The surge in food prices has begun to manifest. "Overall, we maintain a pessimistic outlook on the near-term inflation prospects."