TD Securities analysts note that UK’s May inflation came in largely as expected, with core inflation a tick higher at 1.7% y/y while headline inflation came in at 2.0% y/y, in line with the consensus and the BoE's recent May IR forecast.
“Hotels & restaurants gained sharply in the month, while airfares gave back some of their Easter-related gains. Nothing here should bother the MPC much as they head into their deliberations today/tomorrow.”
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