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2nd Dec 2024 18:12UKDaily Monitor

  • Tobacco duties and base effects will push up CPI inflation to 2.6% in November, from 2.3% in October.
  • We expect energy and food to add 14bp to inflation, and core goods another 15bp, compared to October.
  • CPI inflation 0.2pp higher than the MPC’s forecastwould rule out a December rate cut.

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Keywords for: 3 December 2024 UK Monitor

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