Prior +2.0%Core CPI +3.5% vs +3.5% y/y expectedPrior +3.5%
Both the headline and core annual estimates are unchanged compared to May. This comes as services inflation remains sticky, seen at 5.7%, also unchanged on the month. The pound has nudged up from 1.2970 to 1.2985 on the back of this. The report isn’t one to really compel the BOE to move in August, so that will continue to keep markets guessing for now.
This article was written by Justin Low at www.forexlive.com.
