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CPI services 0.6ppt below the BOE's forecast

UK DATA
  • Still waiting for the website to update to get the details.
  • But bear in mind the BOE's Nov MPR forecast saw services CPI at 6.9%Y/Y. They had downplayed the Oct miss at last weeks' meeting, saying that it was driven by factors that are hard to forecast from.
  • The ONS notes transport, recreation and culture, and food and non-alcoholic beverages as the largest drivers here.

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