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6th Aug 2024 20:22UKDaily Monitor

  • CPI inflation in the UK likely rose to 2.3% in July, from 2.0% in June, 0.1pp below the MPC’s forecast.
  • The rise will be due to easing utility price deflation, as Ofgem cut the price cap less than in July 2023.
  • We expect CPI services inflation to slow to 5.5% but uncertainty is high because of volatile hotel prices.

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Keywords for: 8 August 2024 UK Monitor

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