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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.
UK DATA
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.
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.
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