Analysts at TDS are looking for UK CPI to remain unchanged at 3.0% y/y in January, which is a tenth above consensus but in line with the BoE’s view from the February IR.
“Underlying that, we look for core CPI to pick up a touch to 2.6% y/y, and for continued support from food and energy prices. Going forward, we look for CPI to hold in the high-2s, but it’s unlikely to pop back up above 3.0% again without another unexpected boost to energy prices.”
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