UK CPI and Eurozone industrial production in focus – Nomura
|Analysts at Nomura are forecasting a 0.1pp fall in UK CPI inflation in May (to 2.3%), with the risks to the upside.
Key Quotes
“Reasons for a fall are: negative base effects related to household energy and recreation prices more than offsetting the upside from transport costs. An unchanged RPI-CPI wedge suggests a fall in RPI inflation to 3.3%.”
“EA Industrial production: We expect euro area industrial production to decrease by 0.3% in April, echoing the message that has emerged from recent manufacturing PMI surveys and some country-specific production data.”
“UK Producer prices: The price indicators in the surveys suggest a further rise in core output prices in May. Headline output prices could rise materially more thanks to rising oil prices. The fall in sterling and rise in oil prices over the month should mean a significant rise in input prices (Nomura forecast: +2.5% m-o-m).”
Information on these pages contains forward-looking statements that involve risks and uncertainties. Markets and instruments profiled on this page are for informational purposes only and should not in any way come across as a recommendation to buy or sell in these assets. You should do your own thorough research before making any investment decisions. FXStreet does not in any way guarantee that this information is free from mistakes, errors, or material misstatements. It also does not guarantee that this information is of a timely nature. Investing in Open Markets involves a great deal of risk, including the loss of all or a portion of your investment, as well as emotional distress. All risks, losses and costs associated with investing, including total loss of principal, are your responsibility. The views and opinions expressed in this article are those of the authors and do not necessarily reflect the official policy or position of FXStreet nor its advertisers.