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19th Nov 2024 10:15UKDaily Monitor

  • Ofgem’s 9.5% utility price cap hike raised CPI inflation above the MPC’s 2% target in October.
  • CPI inflation should rise to 2.6% in November and 3.0% next April, on duty hikes and energy prices…
  • ...ruling out a December rate cut; but a February rate cut is likely as underlying services inflation slows. 

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Keywords for: 21 November 2024 UK Monitor

independent macro research, Pantheon Macro, Pantheon Macroeconomics, independent research, ian shepherdson, economic intelligence