Again, there is no surprise here: anyone with the bank of an envelope could work this out for themselves. However, the reason is not falling energy prices: stable energy prices would be enough to deliver this phenomenon. Falling prices might well lead to deflation in 2024.
But what the report does not address is why, as a result, interest rates are still expected to go up.
Because we generally think that positive real interest rates are a good thing to have in an economy?