UK: Inflation exactly in line with consensus at 2.4% - TDS

Sandeep Kanihama FXStreet Contributor

Analysts at TDS point out that UK’s May inflation was exactly in line with consensus and the BoE's forecast at 2.4% y/y, while core CPI was also in line with markets at 2.1% y/y.

Key Quotes

“So it doesn't look like there should be any substantial impact here on BoE thinking. The bigger issue for them at the moment is ensuring that economic growth picks up from Q1, and tomorrow's retail sales data for May should give us more information on that side, where we do look for an above-consensus outcome.”

Author

Sandeep Kanihama

FXStreet Contributor

Sandeep Kanihama is an FX Editor and Analyst with FXstreet having principally focus area on Asia and European markets with commodity, currency and equities coverage. He is stationed in the Indian capital city of Delhi.

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