MNI: US TSY: LOWERS Q3 BORROWING ESTIMATE BY $106B TO $740B

MNI BRIEF: US Treasury Lowers Q3 Borrowing Estimate By $106B

MNI BRIEF: New Powers For UK Fiscal Body As Spending Overshot

MNI China Daily Summary: Monday, July 29

MNI: PBOC Net Injects CNY243.37 Bln via OMO Monday

MNI: PBOC Sets Yuan Parity Higher At 7.1316 Mon; -1.56% Y/Y

MNI: UK JUL BRC SHOP PRICES -0.1% M/M, +0.2% Y/Y

EZ/UK T-Bill Calendar: Belgium Nov 7, 2024 Short TC Due Tuesday

EZ/UK Bond Supply Calendar: Italy, UK Auction on Tuesday

RPT-MNI: Canada Sticks To Fiscal Anchors, Spends Chunk Of Windfall

© 1982-2024 MNI. All rights reserved.
Terms | Privacy
Log Out
Free Trial

BRC-NielsenIQ: Shop Price Inflation Remains Lowest Since Oct'21

UK DATA
DataHomepagemarkets-real-timeData BulletBulletMarketsFixed Income BulletsForeign Exchange Bullets

BRC-NielsenIQ Shop Price inflation remained at 0.2% Y/Y in July for the second consecutive month (vs 0.0% consensus) keeping the print at its lowest level since October 2021, whilst Shop Price Inflation fell for the second successive month albeit at a slower pace on a monthly basis by 0.1% M/M (vs -0.2 prior).

  • The Non-Food component remains in deflation in Y/Y terms for the fourth consecutive month at -0.9% Y/Y, albeit slightly less than last month's -1.0% print. Meanwhile, Food Prices continued to disinflate to 2.3%Y/Y (vs 2.5% prior) - the fifteenth consecutive monthly fall and the lowest reading since November 2021.
  • On a monthly basis the food component rose 0.1% (vs -0.1% prior) - broadly in line with pre-pandemic averages for July, whilst the non-food component fell 0.2% again.
  • These data don't really change the picture ahead of Thursday's MPC policy decision - where markets are pricing close to a 50/50 chance of a 25bp cut or hold.
  • Survey period: 1 to 7 July 2024.
162 words

To read the full story

Close

Why MNI

MNI is the leading provider

of intelligence and analysis on the Global Fixed Income, Foreign Exchange and Energy markets. We use an innovative combination of real-time analysis, deep fundamental research and journalism to provide unique and actionable insights for traders and investors. Our "All signal, no noise" approach drives an intelligence service that is succinct and timely, which is highly regarded by our time constrained client base.

Our Head Office is in London with offices in Chicago, Washington and Beijing, as well as an on the ground presence in other major financial centres across the world.

BRC-NielsenIQ Shop Price inflation remained at 0.2% Y/Y in July for the second consecutive month (vs 0.0% consensus) keeping the print at its lowest level since October 2021, whilst Shop Price Inflation fell for the second successive month albeit at a slower pace on a monthly basis by 0.1% M/M (vs -0.2 prior).

  • The Non-Food component remains in deflation in Y/Y terms for the fourth consecutive month at -0.9% Y/Y, albeit slightly less than last month's -1.0% print. Meanwhile, Food Prices continued to disinflate to 2.3%Y/Y (vs 2.5% prior) - the fifteenth consecutive monthly fall and the lowest reading since November 2021.
  • On a monthly basis the food component rose 0.1% (vs -0.1% prior) - broadly in line with pre-pandemic averages for July, whilst the non-food component fell 0.2% again.
  • These data don't really change the picture ahead of Thursday's MPC policy decision - where markets are pricing close to a 50/50 chance of a 25bp cut or hold.
  • Survey period: 1 to 7 July 2024.